Grayscale Refines NEAR ETF Filing Amid AI Market Surge

The amended filing, designated with SEC Registration No. 333-292834, marks a significant shift in the fund's management structure. BitGo Bank & Trust N.A. has been appointed as the primary custodian, replacing the previous arrangement where Coinbase Custody served as the sole provider. Coinbase retains a role as an additional custodian, ensuring a hybrid security architecture for the proposed trust.

Beyond custody, the document provides updated metrics for the NEAR Protocol, citing a circulating supply of 1.3 billion tokens and a market capitalization of $1.5 billion as of March 31, 2026. During this window, the token’s market ranking shifted from 39th to 43rd place. The filing also clarifies staking policies, explicitly stating that neither the trust nor its custodians currently stake NEAR tokens, and that any future staking exposure remains contingent upon shifting U.S. regulatory permissions.

This regulatory push coincides with a broader market fascination with AI-linked assets, buoyed by the public debut of SpaceX at a $1.77 trillion valuation. As NEAR continues to develop decentralized infrastructure for autonomous agents and AI-centric applications, Grayscale’s revised disclosures position the ETF to capture capital flowing toward these advanced technology themes. The proposal now awaits further review by the Securities and Exchange Commission.