GRAYSCALE ADVANCES WITH A SPOT ETF FOR NEAR.
🏢 Grayscale submitted a formal application to the SEC to convert its Grayscale NEAR Trust into a spot ETF, another step in the expansion of regulated products linked to crypto assets.
The fund would move from trading on OTC markets to being listed on NYSE Arca, replicating the move that the firm has already made with other trusts in recent years.
🪙 The product would be directly backed by tokens $NEAR and would operate passively, with creation and redemption mechanisms designed to reduce the historical mismatch between price and net asset value.
👉 This point is key: OTC trusts often operate with significant premiums or discounts, something that the ETF format seeks to correct.
The current size of the fund is small, with assets under management below one million dollars, which makes it clear that this is not a product of mass demand today, but rather a strategic bet for the medium term.
The possibility of staking remains open, but its implementation will depend on regulatory definitions.
📑 The application does not imply automatic approval. The SEC still needs to evaluate risks, custody, and structure.
📌 Nevertheless, the message is clear: altcoin ETFs are already on the agenda.
