Quick Breakdown
- Grayscale Investments has submitted an S-1 registration statement to the U.S. SEC to transform the Grayscale Near Trust into a spot ETF.
- The conversion involves uplisting existing shares from the OTCQB market to the NYSE Arca under the current ticker symbol, $GSNR.
- Upon regulatory approval, the product will be officially renamed the Grayscale Near Trust ETF, providing a regulated vehicle for NEAR exposure.
Grayscale Investments has filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Near Trust into a spot exchange-traded fund (ETF). The move, initiated on Tuesday, January 20, 2026, marks the latest effort by the firm to transition its suite of private-placement crypto products into regulated, publicly traded investment vehicles.
Enhancing institutional access to NEAR Protocol
According to the SEC filing, the trust will be renamed the “Grayscale Near Trust ETF” following the effectiveness of the registration statement. The product’s investment objective is to reflect the value of the digital assets held by the trust, less expenses and liabilities. This transition is expected to eliminate the significant premiums or discounts to Net Asset Value (NAV) that often plague products restricted to over-the-counter (OTC) trading. “This milestone demonstrates Grayscale’s commitment to advancing our products through their full lifecycle,” stated Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale, during the trust’s initial public listing phase.
Grayscale expands its spot crypto ETF portfolio
This move aligns with the company’s “Institutional Era” outlook, seeing assets like NEAR becoming staple portfolio components. If approved by the SEC, the Grayscale Near Trust ETF ($GSNR) will trade on NYSE Arca, broadening access for retail and professional traders. Coinbase Custody and BNY will continue as custodian and administrator, respectively.
Meanwhile, Grayscale Investments is set to introduce a regulated investment trust focused on Bittensor, a protocol that integrates blockchain and artificial intelligence. This initiative underscores the potential of decentralized AI as a transparent counterpoint to the proprietary models controlled by major technology companies. Utilizing token-based incentives, the protocol rewards a global network of contributors for their data and computing resources. By filing for an exchange-traded product, Grayscale seeks to connect institutional investors with the burgeoning digital asset ecosystem.
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