Grayscale Seeks SEC Approval for NEAR Protocol ETF
- Grayscale files S-1 with SEC for NEAR Protocol ETF.
- Listing proposed on NYSE Arca under the ticker GSNR.
- No immediate shifts in investor sentiments or market conditions.
Grayscale Investments filed an S-1 with the U.S. SEC on January 20, 2026, to convert its Grayscale NEAR Trust into a spot NEAR Protocol ETF for NYSE Arca.
This potential conversion reflects increasing ETF interest, significantly impacting NEAR Protocol’s market dynamics, supported by a modest price rebound, amidst continuing altcoin ETF application trends with the SEC.
Grayscale Investments has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale NEAR Trust into a spot NEAR Protocol ETF. This move aims for listing on NYSE Arca under the ticker GSNR.
Grayscale, a prominent crypto asset manager, plans to use Coinbase Inc. as the prime broker and Coinbase Custody Trust Company LLC as the custodian. The trust, currently valued at approximately $900,000, tracks the NEAR spot price via CoinDesk NEAR CCIXber Reference Rate.
The announcement impacted the NEAR Protocol, triggering a 3% price rebound, though the token remains down by 69% for the year. Current trading ranges between $1.53 and $1.54. All data reflects complex market reactions to the anticipated listing.
Financial analysts, such as James Seyffart of Bloomberg, note that crypto ETP filings continue to flood the SEC. Regulatory pathways remain unclear, suggesting broader market uncertainty about ETF filings’ effects on Layer 1 assets like NEAR.
Market analysts observe that the regulatory review could take several months. The lack of SEC responses points to potential complexities affecting the broader crypto market. Investors express both optimism and caution over the NEAR Protocol’s performance post-filing.
The historical precedent of altcoin ETFs, following SEC’s October 2025 guidelines, shows potential for more listings. Grayscale’s recent filing reflects growing interest in Layer 1 blockchain tokens. The ETF’s acceptance could spur new technological developments and investment strategies.
Eric Balchunas discusses financial developments in the crypto market.
