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Grayscale Investments has formally submitted an S-1 registration assertion to the US Securities and Change Fee (SEC) for a groundbreaking Close to Protocol (NEAR) exchange-traded fund (ETF).
In accordance with the submitted S-1, Grayscale intends to transform the Close to Belief into an ETF and rename the Belief as Grayscale Close to Belief ETF.
This submitting now represents a strategic growth past BTC and ETH merchandise, difficult the established regulatory perimeter for altcoin-based funding automobiles. Because of this, the applying may pave the best way for a brand new period of institutional entry to layer-1 blockchain property, supplied it navigates the SEC’s rigorous assessment course of efficiently.
BREAKING: Grayscale has filed to transform its Grayscale Close to Belief right into a spot NEAR ETF ( $GSNR)
Grayscale Belief holds ~$900K in $NEAR and Trades at a premium to NAV.
If Accepted, it Would comply with Bitcoin and Ethereum ETF strikes, Highlighting Rising Institutional curiosity in… pic.twitter.com/NsB4YbMW88
— Crypto Patel (@CryptoPatel) January 21, 2026
When accredited, it plans to checklist shares below the ticker GSNR, at the moment traded on the OTCQB market, on the NYSE Arca. Nevertheless, the agency is ready to announce charges and different particulars in a later submitting with the SEC.
CSC Delaware Belief Firm is the trustee, The Financial institution of New York Mellon is the switch agent and the administrator, and Continental Inventory Switch & Belief Firm is the co-transfer agent of the belief.
The prime dealer and the custodian can be Coinbase and the custody arm of the American alternate.
Within the submitting, Grayscale additionally hinted at a chance of staking. If the staking situation is glad, “The sponsor anticipates that the Belief would enter into written preparations with the Custodian to stake the Belief’s NEAR to a number of vetted third-party staking suppliers.”
After the submitting, James Seyffart, a well-liked Bloomberg ETF analyst, believes that Crypto ETP filings with the SEC are set to proceed.
Crypto ETP filings proceed to return throughout the SEC’s desk. https://t.co/wJhFQcGMtM
— James Seyffart (@JSeyff) January 20, 2026
NEAR Value Recovers To Soar Over 3%
After the announcement, the Close to Protocol token value jumped 3% in the previous few hours, regardless of a 1.5% drop in the day gone by to commerce at $1.54 as of 1:58 a.m. EST, with an intraday excessive of round $1.56 and a low of $1.50, based on Congecko knowledge.
The slight surge comes at the same time as jitters run by the crypto market, with the house shedding practically 2% during the last 24 hours to a market cap of $3.10 trillion.
The NEAR buying and selling quantity has additionally gained over 14% to $211 million, a sign of elevated buying and selling exercise.
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