Grayscale files for converting NEAR Protocol Trust to Spot ETF

Grayscale, a crypto asset manager, has applied to the US Securities and Exchange Commission for its NEAR Protocol Trust’s conversion to an ETF.

Grayscale filed On Tuesday, Grayscale NEAR Trust released a pre-prospectus for a security offering shares that represent fractional ownership of NEAR Protocol tokens.NEAR). 

The Company intends to transform the Trust existing into an ETF that will be listed at the New York Stock Exchange Arca. 

Grayscale follows a well-established pattern, launching its products in private trusts and then moving them on to OTC market, before converting to ETFs.

Grayscale has converted the Digital Large Cap Fund (Digital Large Cap Fund) into a crypto-asset basket in 2025. Chainlink (LINKTrust (and its XRP)XRPYou can trust ETFs. 

Grayscale released its latest update earlier this month. formed Binance Coin is now the subject of new Delaware Statutory Trusts (BNBHyperliquids (HYPE).

“Crypto ETP filings continue to come across the SEC’s desk,” observed James Seyffart is a Bloomberg ETF Specialist. 

NEAR Trust NAV down 45% 

In September, the NEAR Trust started trading on OTCQB under the symbol GSNR, a major secondary US market run by OTC Markets Group Inc. 

Related: Crypto ETPs gather steam with $2.2B inflows, Bitcoin dominates gains 

In its present form, the company has $900,000.00 in assets. Net asset value is only $2.19 per share, down 46% from the time it first started trading. Altcoin markets are in a free fall over the last four months. 

NEAR tokens drop 92% over two years 

NEAR Protocol (also known as NEAR Protocol) is an AI-native, high-performance platform designed to support the next generation decentralized apps. AI agents.

The AI boom pushed the NEAR token prices up from just under $20 in January of 2022.

The altcoin market has bypassed this current cycle and AI-fever is no longer a factor. 

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