Grayscale Near Trust holder's stake drops to 2.61%

The reported 11,474-share position carried sole voting and dispositive power, with no shared power reported.

Rhea-AI Filing Summary

Grayscale Near Trust (NEAR) is the issuer for which individual reporting person Michal Adam Karminski reported acquiring beneficial ownership of 35,268 shares, equal to 8.04% of the class, on September 22, 2026. Karminski later disposed of shares before the filing date, leaving 11,474 shares, or 2.61% of the class, as of September 25, 2026. He reported sole voting and dispositive power over those shares, with no shared voting or dispositive power.

Key Figures

Shares acquired into beneficial ownership: 35,268 shares Percentage of class at acquisition: 8.04% Beneficial ownership: 11,474 shares +2 more

5 metrics

Shares acquired into beneficial ownership 35,268 shares September 22, 2026

Percentage of class at acquisition 8.04% Acquisition reported on September 22, 2026

Beneficial ownership 11,474 shares As of September 25, 2026

Percentage of class 2.61% As of September 25, 2026

Ownership threshold 5% The reported acquisition crossed the threshold

Key Terms

beneficial ownership, Sole Voting Power, Sole Dispositive Power

3 terms

beneficial ownership regulatory

"acquired beneficial ownership of 35 268 shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole Voting Power regulatory

"Sole Voting Power 11,474.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power regulatory

"Sole Dispositive Power 11,474.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many GSNR shares did Michal Adam Karminski report owning?

Karminski reported beneficial ownership of 11,474 shares, or 2.61% of the class, as of September 25, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/25/2026 - 02:29 PM Accepted by SEC EDGAR 09/25/2026 - 02:28 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Grayscale Near Trust (NEAR)

(Name of Issuer)

Grayscale Near Trust

(Title of Class of Securities)

38964Q106

(CUSIP Number)

09/22/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 38964Q106

1

Names of Reporting Persons

Karminski Michal Adam

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

POLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,474.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,474.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,474.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

100.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Grayscale Near Trust (NEAR)
(b)	Address of issuer's principal executive offices: 290 HARBOR DRIVE, 4TH FLOOR, STAMFORD, CONNECTICUT, 06902
Item 2.
(a)	Name of person filing: KARMINSKI MICHAL ADAM
(b)	Address or principal business office or, if none, residence: Bd d'Italie 74, Etage 1, 98000, Monaco
(c)	Citizenship: POLISH
(d)	Title of class of securities: Grayscale Near Trust
(e)	CUSIP Number(s): 38964Q106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 11474 On September 22, 2026, the Reporting Person acquired beneficial ownership of 35 268 shares (8.04% of the class), crossing the 5% threshold. Prior to the filing date of this Schedule 13G, the Reporting Person disposed of shares, reducing its holding to 11,474 shares (2.61% of the class) as of the date hereof.
(b)	Percent of class: 2.61%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11474
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11474
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Karminski Michal Adam

Signature:	KARMINSKI MICHAL ADAM
Name/Title:	INDIVIDUAL
Date:	09/25/2026