Grayscale Investments filed an amended S-1 registration statement on June 12 for its proposed spot NEAR ETF. The revision adds SEC Registration No. 333-292834 and introduces custody changes alongside updated disclosures tied to the NEAR Protocol ecosystem. The filing emerges as interest in artificial intelligence-linked crypto assets grows following SpaceX's public listing.
Custody Shift: BitGo Named Primary, Coinbase Retained as Additional
Earlier documents listed Coinbase Custody Trust Company as the sole custodian. The amended filing designates BitGo Bank & Trust N.A. as primary custodian, with Coinbase Custody continuing as an additional custodian. This broadens custodian arrangements while preserving Coinbase's involvement. Grayscale also revised staking-related language: the trust may only provide staking exposure if U.S. law permits, and neither the trust, sponsor, nor custodians currently stake NEAR tokens. The amendment provides clearer restrictions.
NEAR Network Data: 1.3 Billion Circulating Supply, $1.5 Billion Market Cap
The amended filing refreshes NEAR ecosystem data. As of March 31, 2026, circulating supply stood at 1.3 billion NEAR tokens, with a market capitalization of approximately $1.5 billion. NEAR's market rank dropped from 39th to 43rd during the period. Grayscale expanded legal disclosures, adding Davis Polk & Wardwell LLP attorney Dylan H. Lojac as legal counsel. The document includes formatting changes and a new checkbox related to emerging growth company elections, all part of broader registration updates.
SpaceX IPO Fuels AI Token Narrative Rebound
The filing arrives as AI-themed crypto narratives regain market attention, partly driven by SpaceX's recent public debut. The aerospace firm entered public markets at a valuation of roughly $1.77 trillion, boosting interest in advanced technology themes across financial markets. AI-focused digital assets have captured some of that attention. NEAR has continued building infrastructure for decentralized AI applications and autonomous agent tools, placing it among blockchain networks targeting AI use cases. The amended registration now awaits further regulatory review.