Grayscale files S-1 to convert Near Trust into spot NEAR ETF

Beincrypto reports that Grayscale has filed a Form S-1 with the US Securities and Exchange Commission on January 20 to convert its Grayscale Near Trust into a spot NEAR exchange-traded fund, with an intention to list the shares on NYSE Arca. The filing says the trust currently manages about $900,000 in assets, has a net asset value of $2.19 per share and trades on the OTCQB under the ticker GSNR.

Grayscale named Coinbase Custody Trust Company as custodian and Coinbase as prime broker, with The Bank of New York Mellon serving as administrator and transfer agent, and it said the fund would not employ leverage, derivatives or similar instruments. The move follows other industry filings and Grayscale activity in 2025, including conversions of several products into ETFs and the creation of Delaware statutory trusts for proposed BNB and Hyperliquid ETFs; the firm is also seeking approval for ETFs on Hedera, Avalanche and Bittensor, and joins Bitwise, which filed a Near ETF Form S-1 in May 2025.

Grayscale is seeking regulatory approval and the filing states that, following effectiveness, the trust intends to list on NYSE Arca under the symbol GSNR.

Key Topics

Crypto, Grayscale, Near, Nyse Arca, Coinbase Custody, Sec