Grayscale has submitted an S-1 registration to the U.S. SEC to transform its Grayscale Near Trust into a spot NEAR ETF on NYSE Arca. This move aims to broaden the crypto ETF market beyond Bitcoin and Ethereum. The proposed ETF, pending SEC approval, would trade under the ticker GSNR and hold NEAR tokens directly, with shares created and redeemed in blocks of 10,000. The trust, launched in May 2024 and opened to public trading in September 2025, currently manages $900,000 in assets. Grayscale's filing follows a trend of asset managers seeking altcoin-focused ETFs, with Bitwise recently filing for 11 single-asset crypto ETFs. Despite the filing, NEAR's price remained stable at $1.53, reflecting a 69% annual decline.