NEAR ETF proposals advanced after Grayscale Investments amended the registration statement for its planned spot fund. The filing adds custody changes and updated disclosures tied to NEAR Protocol.
This filing takes place amid growing interest in cryptocurrencies associated with AI-linked crypto assets.
According to the June 12 S-1 filing, Grayscale made updates to its prior registration statement. The prior filing was submitted in January. The current filing includes SEC Registration No. 333-292834.
Also Read: NEAR Price Could Surge to $2.55 Target If Bitcoin Maintains Key Support Levels
Grayscale Adds BitGo to NEAR ETF Custody Plan
The new amendment provides additional compliance and disclosure statements. Grayscale continues its efforts to obtain permission to offer a spot NEAR ETF.
The custody section contains one of the major changes. Previous filings mentioned Coinbase Custody Trust Company as the sole custodian. In the revised document, BitGo Bank & Trust N.A. is cited as the primary custodian.
The involvement of Coinbase Custody will continue as the additional custodian of the trust. This provides a diversified custody structure. It also maintains the participation of Coinbase in the proposed product.
Staking language has been updated in the NEAR ETF filing. Specifically, it says that exposure to staking could be provided only under conditions that are allowed under the current U.S. law. It also indicates that neither the trust, sponsor, nor custodians stake NEAR tokens.
These new restrictions have been added into the product’s staking requirements. The new amendments also state the present status of all parties. This information is included in the updated registration documents.
Furthermore, Grayscale filed an update regarding data related to the NEAR Protocol network. In the document, NEAR was reported to have 1.3 billion tokens in circulation by March 31, 2026. Additionally, its market capitalization stood at around $1.5 billion.
NEAR ETF Filing Adds Legal and Market Details
NEAR’s market ranking was also updated in the filing. According to the document, NEAR moved from 39th place to 43rd place during the review period.
Some additional legal details are included in the amendment. Dylan H. Lojac of Davis Polk & Wardwell LLP was named as legal counsel in the amended filing. The document also contains formatting changes tied to regulatory compliance.
A new change is also made concerning a checkbox on the election of an emerging growth company. This change comes along with several other administrative changes made within the document.
These documents were filed following a spike in interest regarding crypto assets involving artificial intelligence. Analysts have suggested that interest is associated with the public listing of SpaceX that came with an estimated valuation of $1.77 trillion.
NEAR continues to promote infrastructure for decentralized artificial intelligence applications. The network has also developed tools for autonomous agent systems.
These efforts place NEAR among blockchain projects building infrastructure for artificial intelligence applications.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Binance Cancels SpaceX IPO Campaign, Announces SPCXB Airdrop
