Grayscale Files S-1 With SEC to Convert Near Trust Into Spot NEAR ETF

TheNewsCryptoPubblicato 2026-01-21Pubblicato ultima volta 2026-01-21

Introduzione

Grayscale Investments has filed a Form S-1 with the SEC to convert its Grayscale Near Trust into a spot NEAR ETF, named Grayscale Near Trust ETF (ticker: GSNR). Filed on January 20, 2026, this marks the first major step toward a NEAR Protocol ETF in the U.S. The proposed ETF will use Coinbase as prime broker and custodian, with BNY Mellon and Continental Stock Transfer as transfer agent and administrator. It also includes provisions for staking NEAR tokens under certain conditions. Following the announcement, NEAR’s price increased by 3% to $1.54. Analysts view the move as part of a broader trend of traditional finance seeking regulated altcoin exposure. SEC approval is pending and may take several months to over a year, subject to regulatory review.

Grayscale Investments has made a substantial step forward in expanding institutional investor accessibility to alternative blockchain assets with its submission of a Form S-1 registration statement with the U.S. Securities and Exchange Commission to convert its Grayscale Near Trust into a spot exchange-traded fund (ETF).

Filed on January 20, 2026, this registration statement represents the first major move for a NEAR Protocol ETF in the U.S. market, given prior approvals for Bitcoin Spot ETFs, as well as Bitcoin Futures ETFs. As approved, this new product will have a new name, namely Grayscale Near Trust ETF, trading under the ticker GSNR, shifting from its existing market listing on Over-the-Counter (OTC) markets.

In the S-1 filing, some of the major structural features for the ETF are described. For example, the prime broker for the ETF would be Coinbase Inc., and its custodian would be Coinbase Custody Trust Company LLC. Additionally, transfer agents and administrators for the trust would be The Bank of New York Mellon and Continental Stock Transfer & Trust Company, respectively.

Grayscale’s submission also contained language regarding the entering of agreements with staking partners if certain staking conditions have been met regarding staking of the NEAR held in the ETF, a characteristic of other proposed crypto asset ETFs on the market.

Market Response and Overall Industry Implications

Following the filing, the NEAR token’s price bounced back by over 3%, trading at $1.54, registering a 22% volume within the last 24 hours. This is after a moderate rise in the NEAR—future open interest. This pullback can be attributed to the losses resulting from the crypto market.

This S-1 filing can also be seen in the context of a larger trend among traditional finance institutions seeking altcoin exposure through regulated financial instruments, according to analysts. Grayscale previously filed trust filings for various altcoin-related financial instruments, including BNB and Hyperliquid ETFs, which indicated ongoing interest in a diversified cryptocurrency ETF beyond Bitcoin and Ethereum.

Though the SEC has not approved any NEAR ETFs, this is an encouraging step in the regulatory environment that could open the doors to more instruments themed around layer-1 blockchains. As per experts in the trade, “the registration process may take several months to over a year, and this is subject to scrutiny and review in connection with issues involving market manipulation measures, liquidity, and mechanisms to share”.

S-1 filing by Grayscale to convert Near Trust into a spot ETF reflects the increased institutional desire to add altcoins, such as NEAR Protocol, to the range of available crypto investments. Slightly positive market support in terms of price movement and traded volumes indicates acceptance of the S-1 filing. During the review period by the SEC, the approval of the spot ETF related to NEAR may pave the way for the launch of altcoin-linked products to be traded in the market.

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Domande pertinenti

QWhat is the purpose of Grayscale's S-1 filing with the SEC regarding the Near Trust?

AGrayscale filed the S-1 registration statement to convert its Grayscale Near Trust into a spot exchange-traded fund (ETF) called the Grayscale Near Trust ETF, which would trade under the ticker GSNR.

QWhat was the market response to Grayscale's S-1 filing for the NEAR ETF?

AFollowing the filing, the NEAR token's price increased by over 3% to trade at $1.54, with a 22% increase in trading volume within the last 24 hours.

QWhich companies are named as key service providers in the S-1 filing for the proposed ETF?

ACoinbase Inc. is named as the prime broker, Coinbase Custody Trust Company LLC as the custodian, with The Bank of New York Mellon and Continental Stock Transfer & Trust Company serving as the transfer agent and administrator, respectively.

QWhat does the S-1 filing indicate about the potential for staking the NEAR tokens held by the ETF?

AThe filing contained language regarding entering into agreements with staking partners to stake the NEAR tokens held in the ETF if certain staking conditions are met.

QHow long might the SEC review process take for this S-1 filing according to experts?

AExperts stated that the registration process may take several months to over a year and is subject to scrutiny and review concerning issues like market manipulation measures, liquidity, and sharing mechanisms.

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