Grayscale Seeks to Convert NEAR Trust Into Spot ETF on NYSE Arca

The evidence strongly supports the truthfulness of the statement. The assessment is based on two highly relevant and consistent sources that describe the official, necessary steps for converting a trust into a spot ETF.The news article from Phemex explicitly states that Grayscale filed an S-1 registration statement with the SEC. This is the primary document an issuer (Grayscale) files to register a new security, and the article specifies the intent is to convert its NEAR Trust into a spot ETF for listing on NYSE Arca. This source directly corroborates every element of the claim.Furthermore, the summary of the SEC filing from NYSE Arca describes a proposed rule change (a 19b-4 filing). This is the parallel filing required from the exchange itself (NYSE Arca) to get permission from the SEC to list and trade the new ETF. The existence of both an S-1 from the issuer and a 19b-4 from the exchange provides a complete and consistent picture of the application process.The third source, a Finviz page for Grayscale's Bitcoin Trust, is not relevant to this specific claim about the NEAR Trust and does not contradict the other evidence. In summary, the two relevant sources describe the two complementary and required legal filings from both Grayscale and NYSE Arca, providing strong, consistent evidence that they are indeed seeking to convert the NEAR Trust into a spot ETF on the specified exchange.