- Grayscale announced trusts for Near Protocol and Stacks.
- Crypto market is upbeat ahead of a potentially huge announcement from the SEC on spot Ethereum ETF.
Grayscale Investments has launched two new investment trusts to offer diversified crypto exposure: the Grayscale Near Trust and the Grayscale Stacks Trust.
Both products follow the structure of Grayscale’s single-asset investment trusts and will be exclusively invested in Near Protocol (NEAR) and Stacks (STX), respectively.
“By creating distinctive solutions to address blockchain’s scalability challenges, Stacks and Near are poised to help foster greater adoption—ultimately helping to drive the crypto ecosystem forward,” Rayhaneh Sharif-Askary, Head of Product & Research at Grayscale, said in a statement.
Grayscale noted that accredited individual and institutional investors who meet eligibility requirements can now participate through daily subscriptions for both trusts.
Grayscale eyes approval for its spot ETH ETF
Grayscale is a prominent issuer in the crypto investment space, known for its spot Bitcoin product (GBTC), which is currently the largest by assets under management. The firm is also pursuing approval from the U.S. Securities and Exchange Commission (SEC) for a spot Ethereum ETF.
Like many other issuers, Grayscale filed an updated 19b-4 proposal for a spot Ether ETF. The amended filing, similar to submissions by BlackRock, Bitwise and other applicants, excludes provisions for ETH staking.
Market participants expect the SEC to announce approval for the first U.S. spot Ethereum ETF, with significant attention focused on any imminent decision.
Analysts have suggested that approval could trigger a sharp rally in Ether and a broad uplift across altcoins.
Tokens like STX and NEAR may experience strong upward momentum if a broader crypto bull market unfolds—Stacks could also benefit from renewed interest in Bitcoin and its Layer 2 ecosystem.
At the time of reporting, Stacks was trading around $2.01 and Near Protocol near $7.64.