Grayscale Investments has submitted a revised S-1 submitting for its proposed spot NEAR ETF, which tracks the outstanding AI coin. This transfer coincides as investor curiosity grows amid the blockbuster SpaceX IPO frenzy.
Inside Grayscale’s Amended NEAR ETF Submitting
Grayscale submitted the revised registration assertion on filed Friday, June 12 as Modification No. 1 to Type S-1. It comes on the heels of the BNB coin ETF modification.
Furthermore, it follows the belief’s earlier registration assertion filed in January. It provides the SEC Registration No. 333-292834 to the submitting, which was lacking within the earlier submission.
Custody preparations marked one of many greatest variations. The preliminary utility lists Coinbase Custody Belief Firm, LLC as the only custodian.
The up to date model features a substitute for Coinbase Custody as the first custodian with BitGo Financial institution & Belief N.A. instead. Nonetheless, Coinbase Custody will stay as a further custodian for the Grayscale NEAR ETF.
The asset supervisor additionally beefed up the terminology round staking actions. The revised submitting makes a transparent assertion that they may solely provide publicity to NEAR staking yield through the ETF provided that the US legislation permits it. It confirmed that neither the belief, sponsor nor the custodians are presently staking NEAR tokens.
With this submitting, Grayscale eyes to broaden its altcoin ETF line. Just lately, it launched the Hyperliquid staking ETF in June.
In the meantime, the statistics of the NEAR Protocol ecosystem had been additionally up to date. The modified submitting reveals circulating provide grew to 1.3 billion NEAR tokens as of March 31, 2026, and the market capitalization dropped to $1.5 billion. Additionally, the submitting disclosed that the token’s market rating has dropped from No. 39 to No. 43.
Of specific notice, the modification additionally supplies for the addition of Davis Polk & Wardwell LLP lawyer Dylan H. Lojac as authorized counsel. It additionally included formatting modifications for compliance functions associated to the brand new checkbox for the rising development firm election.
The SpaceX IPO Issue
The submitting comes after crypto narratives associated to synthetic intelligence are resurfacing, sparked by Elon Musk-led SpaceX’s profitable IPO launch. It spurred a surge of curiosity in aerospace AI-related shares and digital property and next-generation expertise narratives.
Over the previous few months, NEAR has been attempting to ascertain itself as a blockchain that’s centered on decentralized AI functions and autonomous agent infrastructure. Now, it’s attracting renewed investor curiosity.
