Grayscale Files To Convert NEAR Trust

Grayscale filed a preliminary prospectus with the US Securities and Exchange Commission on Tuesday to convert its NEAR Protocol Trust into an exchange-traded fund to be listed on NYSE Arca. The trust currently holds about $900,000 in assets under management and a NAV per share of $2.19, down 45% since September; NEAR tokens have fallen roughly 92% from their January 2022 peak. The move follows Grayscale's recent ETF conversions.