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Grayscale, VanEck File Amendments For BNB ETF – Next Altcoin Launch?

Recent filings with the SEC recommend the Binance Coin (BNB) could be the subsequent altcoin to get a spot ETF within the US. In explicit, asset administration companies VanEck and Grayscale have repeatedly amended their S-1 registration varieties, reflecting regulatory steering and rising the probability of a launch.

VanEck Issues fifth BNB ETF Revision As ETF Race Heats Up

In a recent post on X, Bloomberg analyst James Seyffart shared that VanEck had filed Amendment No. 5 to the S-1 for its VanEck BNB ETF, trying to launch beneath the ticker VBNB. The authentic software for this ETF got here in May 2025, amid a interval of filings and anticipated approvals for a number of altcoin spot ETFs, in keeping with US President Donald Trump’s pro-crypto agenda. 

Since his inauguration in January 2025, the SEC has authorised spot ETFs tied to XRP, Solana (SOL), Dogecoin (DOGE), Chainlink (LINK), and Litecoin (LTC), amongst different cryptocurrencies. Alongside VanEck, Grayscale has additionally issued a second modification to its Grayscale BNB ETF, because the asset supervisor seems to be so as to add one other product to its current nine-spot ETFs. Grayscale issued its first modification in April 2025, following discussions of its preliminary filings in January 2025.

Generally, Subsequent amendments to ETF filings point out ongoing dialogue between candidates and the SEC. These modifications signify modifications requested by the regulator by way of formal employees remark letters, masking points akin to redemption mechanics, custody preparations, staking disclosures, charge buildings, and investor safety considerations. 

With each revisions from VanEck and Grayscale coming on the similar time, it’s doubtless that each asset managers are responding to related suggestions from the  SEC, maybe with near-term approval plans. Following these developments, Seyffart speculates that BNB may emerge as the following cryptocurrency to get a US spot ETF. 

The Next Altcoin Spot ETF 

Alongside Binance Coin, different cryptocurrencies with a potential Spot ETF launch in view embrace SEI (SEI), Cardano (ADA), and Tron (TRX). Notably, Canary Capital had additionally just lately filed Amendment No. 1 to its S-1 for its Canary Staked TRX ETF. The ETF construction stays a essential technique of driving institutional adoption of digital cryptocurrencies by eliminating custody complexity and aligning with current compliance frameworks.

Since their launch in 2024, Spot Bitcoin ETFs have emerged as among the many best-performing ETFs globally, with whole cumulative internet inflows. And the following asset is $ 58.34 billion, with internet property of $104.29 billion.  For property akin to BNB, ADA, and SEI, an analogous dynamic may repeat, naturally at a smaller scale, given their relative market capitalizations.

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