Grayscale ETF Plan Offers as ICM Coin Faces Selling Pressure

Asset manager Grayscale is seeking regulatory approval to convert its Grayscale Near Trust into a spot-traded fund (ETF).

The company filed a Form S-1 registration statement with the US Securities and Exchange Commission on January 20, marking a move to expand its list of exchange-traded crypto fund products.

Grayscale’s move to convert Near Trust into an exchange-traded fund (ETF) with a new filing with the Securities and Exchange Commission.

For context, Manage The Grayscale Near Trust currently has approximately $900,000 in assets and a NAV of $2.19 per share. The product trades on the OTCQB market under the symbol GSNR.

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Under the proposed conversion, the Fund will be listed on the New York Stock Exchange Arca. Second For the file,

“The Shares are currently listed on the OTCQB under the symbol ‘GSNR’, and upon the effective date of the registration statement of which this prospectus is a part, the Fund intends to list the Shares on the New York Stock Exchange Arca, Inc. (“NYSE Arca”) under the symbol “GSNR”.

In addition, Grayscale appointed Coinbase Custody Trust As a will of the property of NEAR as a will. Meanwhile, Coinbase acted as a primary broker. The Bank of New York Mellon acted as manager and remittance agent.

The application states that the fund is designed to offer investors a direct and efficient way to access NEAR through a regulated investment vehicle. Grayscale indicated that the box Do not use leverage Or derivatives or similar financial instruments as part of their investment strategy.

The wealth manager now joins Bitwise, That was provided Also an S-1 Form for the Near ETF due in May 2025. The latest order reflects Grayscale’s continued strategic expansion into the cryptocurrency ETF market.

In 2025, the company converted several products into ETFs, including the Digital Large Cap Fund, Chainlink Trust and XRP Trust. Grayscale now offers 9 live trading funds.

Also, earlier this month, Grayskull created New Legal Trusts in Delaware For the proposed BNB and ETF Hyperliquid. These filings with Delaware trusts are first steps before filing Full ETF SEC filings. In additionGrayscale is seeking approval for ETFs on Hedera, Avalanche and Betensor.

However, the announcement did not bring any immediate rise to the NEAR price. BeInCrypto Markets data shows Altcoins are down By 1.76% in the last 24 hours, which generally reflects the general decline in the market. At the time of writing, NEAR is trading at $1.54.

NEAR losses are more pronounced on a weekly basis. Over the past seven days, the token has lost approximately 14.3% of its value, reflecting ongoing selling pressure and cautious investor sentiment amid ongoing macro and geopolitical uncertainty.