Grayscale updates NEAR ETF filing as AI token gains attention
Grayscale Investments has filed an amended registration statement for its proposed spot NEAR ETF.
- Grayscale amended its spot NEAR ETF filing and added SEC Registration No. 333-292834.
- BitGo replaced Coinbase Custody as primary custodian, while Coinbase remains an additional custodian.
- The filing updated NEAR data, including 1.3 billion circulating tokens and a $1.5 billion market cap.
The update introduces custody changes and revised disclosures tied to the NEAR Protocol ecosystem. The filing arrives as investor interest in artificial intelligence-linked crypto assets increases following SpaceX’s public market debut.
Grayscale revises NEAR ETF registration
According to the amended S-1 filing submitted on June 12, Grayscale updated its earlier registration statement. The revision follows the trust’s original filing submitted in January. The latest version includes SEC Registration No. 333-292834, which did not appear in the previous filing. The amendment also contains compliance-related updates and additional disclosures. Grayscale continues seeking approval for a spot ETF tied to NEAR.
The filing introduces changes to the fund’s custody structure. Earlier documents listed Coinbase Custody Trust Company as the sole custodian. The amended filing names BitGo Bank & Trust N.A. as the primary custodian. Coinbase Custody will continue serving as an additional custodian. The revised structure expands the ETF’s custody arrangements while preserving Coinbase’s role.
The asset manager also revised language related to staking activities. The filing states that the trust may only provide staking-related exposure if U.S. law permits it. Grayscale confirmed that the trust, sponsor, and custodians do not currently stake NEAR tokens. The amendment provides clearer language regarding staking restrictions. Those disclosures form part of the updated registration package.
Filing updates NEAR ecosystem data
The amended filing also updates information about the NEAR Protocol network. According to the document, circulating supply reached 1.3 billion NEAR tokens as of March 31, 2026. The filing states that NEAR’s market capitalization stood at approximately $1.5 billion. It also reported a decline in the token’s market ranking. NEAR moved from 39th place to 43rd place during the period covered.
Grayscale also expanded legal and administrative disclosures within the filing. The amendment adds Davis Polk & Wardwell LLP attorney Dylan H. Lojac as legal counsel. The document includes formatting changes tied to regulatory compliance requirements. It also addresses a new checkbox related to emerging growth company elections. Those revisions accompany the broader registration update.
SpaceX IPO boosts attention on AI-linked crypto assets
The filing emerged as artificial intelligence-related crypto narratives regained market attention. Market participants have linked part of that renewed interest to SpaceX’s recent public listing. The aerospace company entered public markets with a valuation of about $1.77 trillion. The listing increased attention toward advanced technology themes across financial markets. AI-focused digital assets have received part of that attention.
NEAR has continued promoting infrastructure focused on decentralized artificial intelligence applications. The network has also developed tools for autonomous agent systems and related services. Those initiatives have placed the project among blockchain networks targeting AI use cases. Grayscale’s amended filing arrived as those themes gained renewed visibility. The updated registration statement now awaits further regulatory review.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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