Grayscale’s NEAR ETF Conversion: A Strategic Move
Grayscale, a leading asset manager in the cryptocurrency investment space, is making strides to convert its Grayscale Near Trust into a spot exchange-traded fund (ETF). This strategic initiative was outlined in the firm’s recent Form S-1 registration statement submitted to the US Securities and Exchange Commission (SEC) on January 20.
The Grayscale Near Trust currently boasts about $900,000 in assets with a net asset value of $2.19 per share. Trading under the ticker GSNR on the OTCQB market, this proposed ETF conversion aims to further broaden Grayscale’s crypto ETF lineup. Pending approval, the ETF will transition to NYSE Arca, offering enhanced transparency and accessibility to investors.
Key Players in Grayscale’s ETF Plan
A notable aspect of the newly proposed ETF is its oversight structure. Grayscale has tapped Coinbase Custody Trust Company to serve as the custodian for NEAR tokens. Concurrently, Coinbase will act as the prime broker, while the Bank of New York Mellon assumes roles as administrator and transfer agent.
This regulated investment vehicle is designed to enable straightforward and efficient exposure to NEAR tokens, without leveraging derivatives, financial instruments, or leveraging strategies. The ETF’s goal is to foster simplicity while adhering to regulatory standards, reflecting Grayscale’s commitment to cultivating trust in the crypto ETF market.
Grayscale’s Growing Crypto ETF Portfolio
Grayscale is no stranger to the ETF space. Following significant filings in 2025, the firm successfully converted several major products, such as the Digital Large Cap Fund, Chainlink Trust, and XRP Trust, into ETFs. Currently, Grayscale manages nine live ETFs and has initiated trust registrations for BNB and Hyperliquid ETFs, with further plans for Hedera, Avalanche, and Bittensor ETFs.
These strategic maneuvers underscore the firm’s intent to dominate the crypto ETF market amidst increasing regulatory scrutiny and investor interest.
NEAR Token Faces Market Pressure
Despite the promising news, the market response to Grayscale’s filing was less than enthusiastic. In the past 24 hours, NEAR’s price has slipped by 1.76%, trading around $1.54 at the time of writing. On a weekly scale, the token has experienced a 14.3% decline, mirroring broader market trends influenced by macroeconomic uncertainty.
For investors eyeing long-term growth potential in NEAR and other crypto products, Grayscale’s ETF aspirations may signal enhanced institutional interest and regulation for digital assets — an essential step for mainstream adoption.
Boost Your Crypto Investment Strategy
While Grayscale’s ambition to expand its ETF offerings excites the market, investor sentiment remains cautious in the current volatile landscape. For those ready to dive into the world of cryptocurrency, consider staying informed with trusted market reports or exploring investment-friendly tools like the Ledger Nano X Wallet to better protect your assets.
Disclaimer: Always consult with a professional before making any financial decisions related to cryptocurrency investments.
