Grayscale Files to Convert NEAR Trust into Spot NEAR ETF on NYSE Arca
Grayscale has submitted a filing with the U.S. Securities and Exchange Commission to convert its NEAR Trust into a spot NEAR ETF that would trade on NYSE Arca. A spot structure would mean the ETF is directly backed by NEAR tokens, giving investors a regulated vehicle for price exposure without holding the underlying crypto themselves. The filing signals Grayscale's continued push into altcoin ETFs following its broader ETF-focused strategy.
If approved, the listing could further expand the altcoin-focused ETF market and simplify access for both retail and institutional investors, potentially improving liquidity and price discovery for NEAR. Approval is still subject to SEC review and market conditions, but Grayscale's experience with prior trust-to-ETF filings may help navigate the process. The proposal underscores growing demand for diversified, exchange-listed crypto products beyond Bitcoin and Ethereum.