DeutschGrayscale, one of the largest crypto fund providers worldwide, continues to push ahead. The company has filed an application with the US Securities and Exchange Commission (SEC) for a NEAR spot ETF. Grayscale is following its proven recipe: transforming existing trust products into exchange-traded funds and providing investors with broader access.
Bitvavo, one of the leading exchanges from Europe (Netherlands) with a large selection of cryptocurrencies. PayPal deposit possible. For a limited time only: 10 Euro bonus when you sign up via CoinPro.ch
Grayscale has already had a whole series of ETFs approved in recent months. XRP, Solana, Dogecoin or Chainlink – many altcoins have been poured into funds that are open to institutional and private investors. Now NEAR, the protocol that reached $20 during the AI boom in 2022, is to receive its own ETF product.
Grayscale plans new crypto ETF despite altcoin crash
The price development of NEAR has been anything but stable. In the subsequent bear market, the cryptocurrency lost over 90 percent of its value and is currently fluctuating between $1.5 and $2. Despite this drastic slump, Grayscale apparently continues to have great confidence in the coin and its long-term prospects. The company’s ETF strategy relies on institutional capital remaining invested even in challenging market phases.
If the application is approved, the NEAR ETF would be listed on NYSE Arca, a subsidiary of the New York Stock Exchange. This platform specializes in ETFs and other exchange-traded products (ETPs) and is considered an important marketplace for regulated crypto funds in the USA. But Grayscale is not only planning for NEAR. BNB and HYPE are also on the agenda. The company has already created the legal structures in Delaware to convert these funds into ETFs later. Observers see this as a clear signal: Grayscale intends to massively expand its product range in the coming months and further consolidate its leading role in the US crypto ETF market.
Not just NEAR-ETF: Are BNB and HYPE coming soon?
The Grayscale strategy follows a simple principle: Altcoins that have been characterized by volatility and speculation potential in the past are packed into regulated funds. The goal is to create security for investors and at the same time increase the liquidity of the respective cryptocurrencies. Analysts see this as a mixture of risk and opportunity management – despite the recent price losses, the company is convinced that the demand for crypto ETFs will continue to rise.
Already heard? That’s why the Bitcoin price could soon fall to $58,000
This has a signal effect for the market. Every new ETF launch, especially on established platforms such as NYSE Arca, sends clear signals to institutional investors. Grayscale is using the regulatory opening in the USA and showing that, despite price slumps, crypto is increasingly being integrated into the traditional financial market.
With NEAR, BNB and HYPE, Grayscale is once again demonstrating that the company is prepared to act strategically despite altcoin crashes. Anyone who wants to invest in the crypto market in the long term should observe this trend – because ETFs could be the next bridge between digital currency and the established financial system. (mck)
