Grayscale Files to Convert NEAR Trust into Spot ETF, Potentially Boosting Yields
- ETF Transformation Plan: Grayscale has filed a Form S-1 with the SEC to convert the Grayscale NEAR Trust into a spot ETF listed on NYSE Arca, reflecting the company's strategy to transition traditional crypto trusts into regulated products accessible to retail investors.
- Structure and Yield Potential: The ETF will allow for the creation/redemption of shares in baskets of 10,000 units using either NEAR or cash, and includes an optional staking clause that could provide additional yield if regulators permit staking rewards, enhancing investment appeal.
- Partner Selection: Grayscale has selected Coinbase for custody and prime brokerage, and Bank of New York Mellon as administrator and transfer agent, ensuring operational stability through partnerships consistent with its existing ETF and trust product infrastructure.
- Optimistic Market Outlook: Analysts note that the improved regulatory environment in the U.S. may pave the way for more spot crypto ETFs to gain approval, and if the Grayscale NEAR ETF is approved, it would provide traditional investors with regulated exposure to the NEAR ecosystem.
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Technical Analysis for NEAR
Technical Sentiment Analysis for NEAR Protocol (NEAR) As of , NEAR Protocol (NEAR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for NEAR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, NEAR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
NEAR Protocol (NEAR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.372 | 0.606 | 0.86 | 1.094 | 1.348 | 1.582 | 1.836 |
| Fibonacci | 0.606 | 0.793 | 0.908 | 1.094 | 1.281 | 1.396 | 1.582 |
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