Key Takeaways:<\/p>\n
Grayscale has submitted a Form S-1 to the SEC to convert its Grayscale Near Trust (GSNR) into a spot ETF listed on NYSE Arca.<\/p>\n
The proposed ETF partners with Coinbase for custody and utilizes the CoinDesk NEAR Reference Rate, featuring a staking option for investors.<\/p>\n
NEAR price jumped 3% to $1.54 following the news, outpacing the broader market as traders eye the next wave of altcoin ETFs.<\/p>\n
Grayscale Investments, the world\u2019s largest crypto asset manager, has officially filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to convert the Grayscale Near Trust (OTC: GSNR) into a spot Exchange-Traded Fund (ETF). The filing, submitted on January 20, 2026, marks the formal entry of NEAR Protocol into the institutional investment race, following closely behind similar moves for Solana and XRP.<\/p>\n
Elevating GSNR to NYSE Arca<\/p>\n
If approved, the conversion would see GSNR uplist from the OTCQB markets to NYSE Arca, offering retail and institutional investors a regulated vehicle to gain exposure to the Layer-1 blockchain without managing private keys.<\/p>\n
According to the filing, the ETF will adhere to the rigorous standards established by previous Grayscale products:<\/p>\n
Custodian & Prime Broker: Coinbase Custody and Coinbase Inc. will handle asset security and trade execution, leveraging the same infrastructure that currently underpins the massive Grayscale Bitcoin Trust (GBTC).<\/p>\n
Benchmark Index: The fund will track the CoinDesk NEAR CCIXber Reference Rate, ensuring transparent, real-time pricing derived from major spot exchanges.<\/p>\n
Staking Capability: Notably, the filing includes provisions for a staking option. Grayscale intends to utilize vetted providers to stake the underlying NEAR tokens, potentially passing through staking yields (currently estimated at 8-10% APY) to shareholders \u2013 a critical differentiator from non-yielding commodities like Bitcoin.<\/p>\n
Grayscale has submitted a Form S-1 to the SE<\/p>\n
Validating the \u201cChain Abstraction\u201d Leader<\/p>\n
The market reaction was immediate and distinct. While Bitcoin faced headwinds from recent tariff shock rumors, NEAR decoupled from the bearish trend, rallying 3% to reclaim the $1.54 level after bouncing from a low of $1.50.<\/p>\n
Trading data underscores a sharp uptick in institutional interest. 24-hour trading volume surged by 22%, while Open Interest (OI) in NEAR futures markets climbed 2% to reach $229 million. Analysts interpret this filing as a significant validation of NEAR\u2019s \u201cChain Abstraction\u201d narrative and its growing role as infrastructure for consumer-facing AI applications.<\/p>\n
The 2026 Altcoin ETF Wave<\/p>\n
Grayscale\u2019s move is part of a broader \u201caltcoin ETF wave\u201d dominating the financial narrative in early 2026. It follows recent disclosures regarding potential ETF trusts for BNB and the decentralized exchange token Hyperliquid, signaling that asset managers are aggressively diversifying beyond the \u201cBig Two\u201d (Bitcoin and Ether).<\/p>\n
Current Status of Major Crypto ETF Filings (Jan 2026):<\/p>\n
AssetFilerStatusBitcoin (BTC)Grayscale, BlackRock, etc.LiveEthereum (ETH)Multiple IssuersLiveSolana (SOL)VanEck, 21SharesFiledXRPGrayscale, BitwiseOTC \/ FiledNEARGrayscaleS-1 FiledBNBGrayscaleTrust Formed \/ Filed<\/p>\n
With the SEC review process typically spanning 60 to 240 days, market observers are targeting a potential launch window in Q2 or Q3 2026. A successful conversion would not only unlock significant liquidity for NEAR but also set a precedent for staking rewards in US-listed crypto products, bridging the gap between decentralized yield and traditional finance.<\/p>\n
Read Next: Grayscale Launches Dedicated Zcash Trust (ZCSH), Bridging Wall Street and Privacy Coins<\/p>\n","protected":false},"excerpt":{"rendered":"