Crypto: Grayscale Files To Convert Near Protocol Trust Into Etf On Nyse Arca

Grayscale continued its pattern of trust-to-ETF conversions with the NEAR Trust despite declining fund performance.

Crypto asset manager Grayscale has filed with the US Securities and Exchange Commission to convert its NEAR Protocol Trust to an exchange-traded fund.

Grayscale filed a preliminary prospectus on Tuesday for the Grayscale NEAR Trust, a security that offers shares representing fractional ownership in NEAR Protocol tokens (NEAR).

The company intends to convert the existing Trust into an ETF to be listed on the New York Stock Exchange Arca.

The move follows Grayscale’s established pattern of launching products as private trusts, moving them to OTC markets, and eventually converting them to exchange-traded products.

In 2025, Grayscale converted its crypto asset basket Digital Large Cap Fund, its Chainlink (LINK) Trust, and its XRP (XRP) Trust into ETFs.

Earlier this month, Grayscale formed new Delaware statutory trusts tied to potential products linked to Binance Coin (BNB) and Hyperliquid (HYPE).

“Crypto ETP filings continue to come across the SEC’s desk,” observed Bloomberg ETF specialist James Seyffart on Tuesday.

The NEAR Trust began trading under the symbol GSNR on OTCQB, a leading secondary US market operated by OTC Markets Group Inc., in September.

Related: Crypto ETPs gather steam with $2.2B inflows, Bitcoin dominates gains

Source: CoinTelegraph