- Grayscale seeks SEC approval for Near Protocol spot ETF under ticker $GSNR.
- Trust holds ~$900K in NEAR and may enable staking through third-party providers.
- NEAR token jumps 3% after ETF filing amid bullish technical structure.
Grayscale Near ETF is set to expand the firm’s crypto offerings beyond Bitcoin and Ethereum. The firm filed to convert its Near Trust into an SEC-approved spot ETF.
Grayscale Moves to Launch Near Protocol ETF
Grayscale Investments has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission. The filing requests conversion of the Grayscale Near Trust into a spot ETF.
Upon approval, the fund will be renamed Grayscale Near Trust ETF and trade under the ticker $GSNR. According to the filing, the trust currently holds approximately $900,000 worth of NEAR tokens and trades at a premium to its net asset value.
The conversion into an ETF would mark a strategic expansion beyond the firm’s existing Bitcoin and Ethereum products. The application lists CSC Delaware Trust Company as trustee.
The Bank of New York Mellon as transfer agent, and Continental Stock Transfer & Trust Company as co-transfer agent. Coinbase and the American exchange custody arm are designated as custodian and prime broker.
ETF Filing and Staking Plans
The Grayscale filing also indicated potential staking of NEAR tokens. If staking conditions are met, the trust would partner with vetted third-party staking providers.
This approach could allow the trust to generate staking rewards for ETF shareholders. James Seyffart, a Bloomberg ETF analyst, noted that crypto ETP filings with the SEC are expected to continue.
The move shows an ongoing trend of institutional investors seeking regulated access to layer-1 blockchain assets beyond Bitcoin and Ethereum. Grayscale plans to release additional details, including fees, in subsequent SEC filings.
The trust is currently traded on the OTCQB market but would list shares on NYSE Arca once approval is granted.
Market Response and NEAR Technical Analysis
Following the announcement, the NEAR token price rose over 3% to $1.54. This increase came after a 1.5% drop on the previous day. Trading volume also surged by 14% to $211 million. Technical analysis shows NEAR forming an ascending triangle pattern.
Price is suggesting a possible breakout if resistance is decisively breached. The critical support zone between $1.6 and $1.8 has consistently absorbed selling pressure.
Breaking the resistance convincingly could open paths toward all-time highs near $21, with the next targets around $48–$50. The Grayscale Near ETF filing adds another layer to institutional access to altcoins.
The combination of potential staking, increased trading volume, and technical bullish patterns positions NEAR for close market monitoring.
