Grayscale Files Spot BNB ETF Application With US SEC — Report
In an fascinating improvement, Grayscale has utilized to the United States Securities and Exchange Committee to launch a spot exchange-traded fund (ETF) linked to BNB, the Binance Ecosystem’s native token. This transfer marks an influence play by the asset administration agency to additional set up itself within the cryptocurrency house.
Grayscale Looks To Add To List Of Crypto-Linked ETFs
On Friday, January 23, Grayscale filed an S-1 registration assertion with the SEC to launch a spot BNB exchange-traded fund within the US. According to the SEC submitting, the proposed Grayscale ETF would maintain the Binance ecosystem’s native token immediately and challenge shares designed to trace the token’s market worth.
This Grayscale funding product, if authorised, would supply US buyers publicity to the BNB token with out having to personal or maintain the asset themselves. The asset supervisor’s registration assertion additionally revealed that the exchange-traded fund would commerce on the Nasdaq alternate underneath the ticker image GBNB, topic to regulatory approval.
It is value mentioning that Grayscale shouldn’t be the primary asset supervisor to file for a spot BNB ETF, as VanEck applied way back to April 2025. However, this newest submitting displays the agency’s resolve to develop its checklist of crypto-linked funding merchandise, particularly after the profitable launch of the Bitcoin and Ethereum ETFs.
It was at all times solely a matter of time earlier than BNB, the fourth-largest cryptocurrency by market capitalization, acquired further consideration from establishments targeted on exchange-traded merchandise. As such, this transfer by Grayscale has caught the eye of the cryptocurrency market, together with former Binance CEO Changpeng ‘CZ’ Zhao.
In a Friday put up on the social media platform X, CZ said that Grayscale’s submission of its S-1 submitting to the SEC represents a small step towards making the United States the capital of crypto. “A small step in serving to to make America the Capital of Crypto, by giving entry to the third largest crypto,” the Binance co-founder wrote on Friday.
Meanwhile, Bloomberg ETF professional James Seyffart concurred {that a} spot ETF approval might imply that the BNB token can be categorised as a commodity fairly than a safety. This is as a result of the approval of an exchange-traded fund is usually a sign that the SEC views the underlying asset as a commodity fairly than as a safety.
BNB Price At A Glance
After making a play for $900 on Friday afternoon, the worth of BNB now stands at round $890. According to knowledge from CoinGecko, the fourth-largest cryptocurrency is down by almost 5% previously seven days.
