How Grayscale Is Converting Its Near Trust Into an ETF

Grayscale has filed formal registration documents with the U.S. Securities and Exchange Commission, aiming to convert its Near Trust into a tradable exchange-traded fund. This represents a significant shift for the asset manager as it seeks to expand accessibility to Near Protocol exposure beyond traditional over-the-counter channels.

The Filing and Current Status

The Grayscale Near Trust, currently quoted on the OTCQB market under ticker symbol “GSNR,” has undergone the S-1 registration process. The company submitted its prospectus and supporting documentation to the SEC to facilitate this transition. Once regulatory approval is granted and the registration statement becomes effective, shareholders and prospective investors will see a structural transformation in how this product is managed and traded.

Planned Listing on NYSE Arca

Upon successful SEC approval, Grayscale intends to migrate its Near Trust shares to NYSE Arca, a major U.S. securities exchange. Importantly, the ticker symbol “GSNR” will remain unchanged throughout this transition, maintaining continuity for existing shareholders. This move positions the product within the standard ETF marketplace rather than relying solely on over-the-counter trading infrastructure.

Strategic Implications for Investors

The conversion to ETF status reflects Grayscale’s broader effort to bring crypto-exposure products into mainstream financial infrastructure. By transitioning from OTCQB to NYSE Arca, the company aims to enhance liquidity, improve regulatory oversight, and broaden the investor base for Near Protocol exposure. This shift aligns with the industry’s continued institutional adoption of digital asset investment vehicles.