Grayscale adds close to its ETF ambitions with an SEC filing
Asset manager Greyscale is seeking regulatory approval to convert the Greyscale Near Trust into a spot exchange-traded fund (ETF).
The company filed a Form S-1 registration statement with the US Securities and Exchange Commission on January 20, indicating moves to expand its crypto ETF product lineup.
Grayscale moves to convert close trust into ETF with new SEC filing
For context, Greyscale Near Trust currently manages approximately $900,000 in assets and has a net asset value of $2.19 per share. The product is traded on the OTCQB market under the symbol GSNR.
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Subject to the proposed conversion, the ETF will be listed on the NYSE Arca. According to the document
“The shares are currently quoted on the OTCQB under the symbol GSNR, and following the effectiveness of the registration statement of which this prospectus forms a part, the Trust intends to list the shares on NYSE Arca, Inc. (“NYSE Arca”) under the symbol ‘GSNR.'
Grayscale has also named Coinbase Custody Trust Company as custodian for NEAR holdings. Meanwhile, Coinbase acts as a prime broker. The Bank of New York Mellon serves as administrator and transfer agent.
The filing states that ETFs are designed to provide investors with a direct and efficient way to access NEAR through an integrated investment vehicle. Greyscale states that the Fund does not use equities, derivatives or other similar financial instruments as part of its investment strategy.
The asset manager now joins Bitwise, which filed a Form S-1 for its latest ETF in May 2025. The latest filing shows Greyscale's continued strategic expansion into the crypto ETF market.
In the year By 2025, the company had converted several products into ETFs, including the Digital Large Cap Fund, Chainlink Trust and XRP Trust. Grayscale now offers 9 live ETFs.
Moreover, earlier this month, Greyscale established a new Delaware legal trust for its proposed BNB and Hyperliquid ETFs. These Delaware trust registrations are the first steps before filing full SEC ETF applications. Additionally, Grayscale requires ETAF licenses on Hedera, Avalanche, and Bittensor.
However, the announcement failed to bring about any immediate change in the price of NEAR. Data from BeinCrypto Markets shows that the altcoin is down 1.76% in the last 24 hours, broadly reflecting the broader market decline. At the time of writing, NEAR was trading at $1.54.
The near misses are revealed more weekly. Over the past seven days, the token has shed about 14.3% of its value, reflecting continued selling pressure and cautious investor sentiment amid macro and geopolitical uncertainty.
