Grayscale Information S-1 for NEAR ETF as $45B Every day Quantity Places NEAR Again on Institutional Radar

Key Takeaways:

Grayscale submitted an S-1 to SEC to rework its Close to Belief right into a spot NEAR ETF on NYSE Arca.The proposed ETF is GSNR and can observe NEAR spot and will have staking rewards topic to approval.The submitting can be the momentum to a rising tide of separate-asset crypto ETF filings not involving Bitcoin and Ethereum.

Grayscale has submitted an S-1 registration assertion to the U.S. Securities and Alternate Fee, in search of approval to transform its current Grayscale Close to Belief right into a spot exchange-traded fund. The transfer would give public-market traders direct worth publicity to NEAR by means of a regulated ETF construction.

The submitting positions NEAR as one of many subsequent layer-1 property competing for institutional capital by way of conventional market rails.

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Grayscale Strikes NEAR Belief Towards an ETF Construction

In response to the prospectus, the Grayscale Close to Belief will probably be renamed Grayscale Close to Belief ETF upon effectiveness of the registration assertion. The fund is anticipated to listing on NYSE Arca underneath the ticker GSNR, topic to regulatory approval.

The Belief was initially shaped in November 2021 and presently operates as a passive funding car holding NEAR tokens. Its said goal stays easy: replicate the worth of NEAR held by the Belief, minus charges and liabilities, with out leverage or derivatives.

Grayscale emphasised that the ETF won’t try and outperform NEAR. As a substitute, it’ll observe spot pricing utilizing a CoinDesk reference charge, with plans to transition to the CoinDesk NEAR CCIXber Reference Fee earlier than itemizing.

This mirrors the construction used throughout Grayscale’s different spot crypto merchandise, reinforcing a standardized ETF playbook.

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How the NEAR ETF Is Designed to Work

The Belief plans to subject and redeem shares in blocks of 10,000, referred to as Baskets. Approved Members will create or redeem these Baskets both in-kind utilizing NEAR or by way of money orders facilitated by liquidity suppliers.

NEAR’s Market Profile in Focus

The submitting by Grayscale displays in the marketplace metrics of NEAR to help the viability of the ETF. The present NEAR was issued within the type of protocol emission, with a complete of 1.284 billion NEAR in circulation on December 31, 2025, out of 1 billion of the primary launch.

At the moment:

NEAR recorded roughly $45 billion in 24-hour buying and selling quantityMarket capitalization stood close to $1.9 billionNEAR ranked thirty ninth globally by market cap

Though not massive as compared with the main property, NEAR has a powerful liquidity profile that might help institutional merchandise, which is among the elements that ETFs are authorised.

NEAR Joins a Rising Lineup of Altcoin ETF Filings

The NEAR ETF proposal has been launched at a time when crypto ETF filings have proliferated to different property apart from Bitcoin and Ethereum. Grayscale additionally just lately registered trusts related to different layer-1 and DeFi-oriented tokens, which signifies wider ambitions.

Analysts observe that the response of SEC in direction of non-BTC ETFs will rely in the marketplace monitoring, custody necessities and liquidity profundity. The truth that NEAR is on this wave implies that issuers are of the opinion that the window of regulation could also be widening.