Grayscale amends NEAR ETF filing amid rising AI crypto interest

Grayscale Investments has submitted an amended registration statement for its proposed spot NEAR ETF, reflecting operational tweaks and updated disclosures linked to the NEAR Protocol ecosystem. The changes notably involve custody arrangements, indicating a refinement in how the fund plans to safeguard assets as regulatory scrutiny intensifies.

The timing comes as AI-related crypto tokens, including NEAR, garner heightened attention from institutional investors chasing thematic exposure beyond traditional blockchain projects. NEAR Protocol has positioned itself as a foundational layer not just for decentralized apps but increasingly for AI-driven services, which may explain Grayscale’s eagerness to push ahead with the ETF.

This development adds to a growing slate of crypto ETFs targeting niche sectors, as issuers race to capture demand from traders looking for crypto’s intersection with emerging technologies. However, the SEC’s cautious stance on spot crypto ETFs means this filing still faces hurdles. Adjustments to custody could be a bid to alleviate regulator concerns about secure asset storage, a core sticking point in recent approvals.

Market participants will watch closely whether these updates accelerate the SEC’s eventual green light or if further revisions are needed. Meanwhile, NEAR’s price momentum has been supported by the broader AI hype, but the token remains vulnerable to shifts in risk appetite and regulatory shifts across jurisdictions.

Grayscale’s amended filing sets a timeframe for potential listing and trading, with the next formal update expected within weeks. For traders and portfolio managers, the key will be monitoring liquidity conditions around the token and any regulatory feedback. The success of this filing could set a precedent for other AI-related crypto ETFs aiming for mainstream acceptance.