Grayscale Investments, one of the leading digital asset providers, has announced its application to the U.S. Securities and Exchange Commission (SEC) to convert its NEAR trust into a spot exchange-traded fund (ETF). This move aligns with the company’s strategy to expand its range of altcoin-based ETFs.
This is reported by Finway
Features of the New NEAR-Based ETF
If approved by the SEC, shares of the new fund, which will be renamed Grayscale Near Trust ETF, are planned to be listed on the NYSE Arca. This will provide investors with direct access to the NEAR asset. The new ETF allows for investment directly in NEAR coins, as well as the option to stake the coins included in the fund.
The issuance and redemption of the fund’s shares will be managed by The Bank of New York Mellon, while Coinbase will act as the broker and custodian service provider.
Current Status and Market Impact
Currently, shares of this Grayscale trust are trading on the over-the-counter market OTCQB under the ticker GSNR, although the fund was initially closed to public trading. The company introduced the product back in May 2024 as part of a basket of ETFs based on various altcoins.
“The goal of this exchange-traded fund is to provide participants with direct exposure to the NEAR asset. The product will invest directly in the coins. Additionally, it includes the option to stake the trust’s coins.”
In addition to Grayscale, Bitwise has also submitted an application to launch a NEAR-based fund, indicating a growing interest in this asset from major market players.
However, there has been no significant positive reaction from NEAR following the news. On the contrary, the coin’s price dropped on January 18-19, 2026, due to an overall correction in the cryptocurrency market and has yet to recover.
NEAR Protocol recently unveiled plans for the development of its infrastructure for 2026, highlighting the asset’s relevance for investors and companies creating new financial instruments based on it.