Key facts
- Grayscale Investments filed an amended S-1 for its spot NEAR ETF.
- BitGo Bank & Trust N.A. is now the primary custodian, with Coinbase Custody as an additional custodian.
- The ETF will only offer NEAR staking yield exposure if legally permitted.
- NEAR Protocol's circulating supply was 1.3 billion tokens as of March 31, 2026, with a market cap of $1.5 billion.
- NEAR's market ranking has fallen to No. 43.
Grayscale Investments has submitted an amended S-1 registration statement for its proposed spot NEAR ETF, updating key details including custody arrangements. The revised filing, submitted on Friday, June 12, replaces Coinbase Custody Trust Company, LLC with BitGo Bank & Trust N.A. as the primary custodian, though Coinbase Custody will remain as an additional custodian.
The amendment also clarifies Grayscale's stance on staking yield exposure for the NEAR ETF, stating it will only be offered if permitted by U.S. law. Neither the trust, sponsor, nor custodians are currently staking NEAR tokens.
Updated statistics for the NEAR Protocol ecosystem were included, revealing a circulating supply of 1.3 billion NEAR tokens as of March 31, 2026, and a market capitalization of $1.5 billion. The token's market ranking has dropped from No. 39 to No. 43.
This filing follows Grayscale's recent launch of the Hyperliquid staking ETF and comes amid a resurgence of interest in artificial intelligence-related digital assets. The successful IPO of Elon Musk-led SpaceX has reportedly spurred this renewed investor focus on next-generation technology narratives, including decentralized AI applications.