Crypto asset supervisor Grayscale has filed with the US Securities and Change Fee to transform its NEAR Protocol Belief to an exchange-traded fund.
Grayscale filed a preliminary prospectus on Tuesday for the Grayscale NEAR Belief, a safety that gives shares representing fractional possession in NEAR Protocol tokens (NEAR).
The corporate intends to transform the prevailing Belief into an ETF to be listed on the New York Inventory Change Arca.
The transfer follows Grayscale’s established sample of launching merchandise as personal trusts, transferring them to OTC markets, and ultimately changing them to exchange-traded merchandise.
In 2025, Grayscale transformed its crypto asset basket Digital Giant Cap Fund, its Chainlink (LINK) Belief, and its XRP (XRP) Belief into ETFs.
Earlier this month, Grayscale shaped new Delaware statutory trusts tied to potential merchandise linked to Binance Coin (BNB) and Hyperliquid (HYPE).
“Crypto ETP filings proceed to return throughout the SEC’s desk,” noticed Bloomberg ETF specialist James Seyffart on Tuesday.
NEAR Belief NAV Down 45%
The NEAR Belief started buying and selling below the image GSNR on OTCQB, a number one secondary US market operated by OTC Markets Group Inc., in September.
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In its present type, it has $900,000 in property below administration. It has a internet asset worth per share of $2.19, down 45% from when it began buying and selling as altcoin markets have tanked over the previous 4 months.
NEAR tokens droop 92% in two years
NEAR Protocol is a high-performance, AI-native platform constructed for the following era of decentralized purposes and AI brokers.
NEAR token costs surged to an all-time excessive of simply over $20 in January 2022 through the AI growth.
Nonetheless, they’ve tanked 92% since then to at the moment commerce at $1.54 because the altcoin season bypassed the present market cycle, and AI fever has light.
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