Grayscale files to convert NEAR Protocol Trust into ETF on NYSE Arca

Grayscale continued its pattern of trust-to-ETF conversions with the NEAR Trust despite declining fund performance.

Crypto asset manager Grayscale has filed with the US Securities and Exchange Commission to convert its NEAR Protocol Trust to an exchange-traded fund.

Grayscale filed a preliminary prospectus on Tuesday for the Grayscale NEAR Trust, a security that offers shares representing fractional ownership in NEAR Protocol tokens (NEAR). 

The company intends to convert the existing Trust into an ETF to be listed on the New York Stock Exchange Arca. 

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