Grayscale Investments and VanEck have moved closer to launching spot BNB exchange-traded funds in the US by filing updated S-1 registration statements with the Securities and Exchange Commission.
These new filings show that competition in the altcoin ETF market is increasing as issuers look beyond Bitcoin and Ethereum.
Grayscale filed its second amendment for the proposed Grayscale BNB ETF, and VanEck submitted its fifth amendment for its BNB product. These filings are required for SEC approval and outline fund structure, risks, operations, and fees. VanEck set a management fee of 0.39%, but Grayscale has not shared its pricing yet.
BNB is the world’s fourth-largest cryptocurrency by market value, but it has not yet received an ETF like Solana, XRP, Litecoin, or Hyperliquid. Recent regulatory changes now make it easier for issuers to launch crypto ETFs using a standard listing process instead of the older, case-by-case reviews.
Investor interest in new altcoin ETFs is mixed. Solana and XRP products saw strong early investments, but the new Hyperliquid ETF had a more modest start. Analysts say Bitcoin and Ethereum ETFs still lead among institutions because they offer better liquidity and are more widely accepted by traditional investors.
The new BNB filings show that big Wall Street firms are still interested in expanding crypto investment options, even though regulators and investors are cautious about newer altcoins.
Yup. Definitely movement at the SEC with regards to a potential binancecoin:native ETF launch. @vaneck_us just filed an amended prospectus for their binancecoin:native ETF. This is their FIFTH amendment. Yes 5th. https://t.co/jdVjPZ3f72 pic.twitter.com/LvAhNZ7hkf
— James Seyffart (@JSeyff) May 15, 2026
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