{"id":158,"date":"2026-01-22T10:17:57","date_gmt":"2026-01-22T10:17:57","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=158"},"modified":"2026-01-22T10:17:57","modified_gmt":"2026-01-22T10:17:57","slug":"grayscale-plans-to-convert-near-trust-into-spot-etf","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/01\/22\/grayscale-plans-to-convert-near-trust-into-spot-etf\/","title":{"rendered":"Grayscale Plans to Convert NEAR Trust Into Spot ETF"},"content":{"rendered":"\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"299\" height=\"168\" data-id=\"159\" src=\"https:\/\/blog.coinsignals.net\/wp-content\/uploads\/2026\/01\/IMG_1163.jpeg\" alt=\"\" class=\"wp-image-159\"\/><\/figure>\n<\/figure>\n\n\n\n<p>Grayscale has submitted an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to transform its existing Grayscale Near Trust into a spot NEAR exchange-traded fund (ETF) on NYSE Arca. If approved, the ETF would hold NEAR tokens directly, aiming to minimize the premiums and discounts that have often affected the current trust.<\/p>\n\n\n\n<p>This move reflects a growing effort by major asset managers to expand the crypto ETF market beyond Bitcoin and Ethereum, bringing altcoins like NEAR into mainstream investment products.<\/p>\n\n\n\n<p><strong>Key Details of the Proposed ETF<\/strong><\/p>\n\n\n\n<p>The filing, first highlighted on X by ETF Hearsay\u2019s Henry Jim on January 20, proposes uplisting the trust under the ticker <strong>GSNR<\/strong>. The Grayscale Near Trust currently trades over the counter, having launched privately in May 2024 and opening to public trading in September 2025.<\/p>\n\n\n\n<p>Under the proposal, the trust would be renamed <strong>Grayscale Near Trust ETF<\/strong> and operate as a passive fund holding NEAR tokens directly. Shares would be created and redeemed in blocks of 10,000 through authorized participants using a combination of in-kind and cash mechanisms, designed to keep the ETF\u2019s market price close to its net asset value (NAV).<\/p>\n\n\n\n<p>The current trust has a 2.50% expense ratio, though ETF fees have not yet been announced. As of January 21, the trust managed about $900,000 in assets, with shares trading around $2.85 versus a NAV of roughly $2.19. Grayscale acknowledges that the trust has frequently traded at significant premiums or discounts, which the ETF structure is expected to reduce.<\/p>\n\n\n\n<p>The filing also mentions optional staking, which would only begin if regulatory and tax conditions are satisfied, leaving Grayscale with full discretion to implement it.<\/p>\n\n\n\n<p><strong>NEAR Market Context<\/strong><\/p>\n\n\n\n<p>The filing did not immediately move NEAR\u2019s price, suggesting traders are cautious about timing and approval likelihood. NEAR was trading near $1.53 at the time, down about 69% over the past year and 17% over the last week. Its volatility is an important factor for the proposed ETF, as the product\u2019s value would closely track the spot price of NEAR.<\/p>\n\n\n\n<p>Grayscale\u2019s filing is part of a wider trend of asset managers seeking approval for altcoin-focused ETFs. In December 2025, Bitwise filed for 11 single-asset crypto ETFs targeting tokens including Aave (AAVE), Uniswap (UNI), Sui (SUI), and NEAR. ETF analyst Eric Balchunas noted these filings show issuers racing for first-mover advantage. The strong trading performance of recent Ethereum and Solana ETFs in early January 2026 has likely encouraged this wave of new applications.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grayscale has submitted an S-1 registration with the U.S. Securities and Exchange Commission (SEC) to transform its existing Grayscale Near Trust into a spot NEAR exchange-traded&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-158","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=158"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/158\/revisions"}],"predecessor-version":[{"id":160,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/158\/revisions\/160"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}