Grayscale submits S-1 filing for ETH, prepares to launch NEAR Trust, effectively packaging NEAR tokens into a "quasi-ETF"—once approved by the SEC, it can be publicly traded on the US OTC market. For the NEAR blockchain, this means three things:

1. Compliance "Gold Plating"
Assets selected by Grayscale have traditionally been regarded as "mainstream assets" by traditional funds. The SEC's S-1 review process will give NEAR a comprehensive compliance check, and passing it will grant a Wall Street pass.
2. Opening the Gate for Incremental Funds
Trust shares can be bought and sold directly in securities accounts with USD. Institutions like pension funds, family offices, and corporate treasuries that cannot custody crypto assets can now allocate NEAR compliantly, effectively adding a USD-denominated, off-chain "water pipe" for the token.
3. Positive Feedback Loop for Price and Ecosystem
Grayscale Trust adopts a "physical subscription + lock-up" model—new shares must be purchased with spot NEAR, and tokens in the trust are no longer circulated. As the scale expands, the market circulation is continuously absorbed, forming a long-term buy support; simultaneously, developers, validators, and DeFi ecosystems gain higher attention, boosting on-chain activity.
In short: NEAR officially gains a "traditional financial seat" from the "crypto asset" space, bringing visible buying interest in the short term, and in the medium to long term, enhancing brand, liquidity, and developer confidence—an typical "institutional entry-level" positive signal. #Gate广场创作者新春激励