Grayscale has moved closer to launching a spot BNB ETF in the US by filing an updated S-1 registration with the SEC. The new filing confirms the fund would trade as GBNB on Nasdaq if approved, but details like management fees and staking plans are still unknown. This update follows Grayscale’s recent launch of its Hyperliquid Staking ETF.
The latest filing gives investors a better idea of the proposed product and shows some important changes. One key update is the removal of a plan that would have let investors swap BNB tokens for shares through authorized participants. Experts think this change was made after feedback from regulators.
The filing confirms that Grayscale Investments Sponsors LLC will be the only sponsor of the trust. The Bank of New York Mellon will be the administrator and transfer agent, while BitGo, a top crypto custodian, will handle digital asset custody.
This filing comes soon after VanEck launched the first US-listed spot BNB ETF, showing more institutional interest in Binance’s token. Even with this momentum, BNB has seen short-term price swings, dropping after a strong rally tied to ETF excitement.
For Grayscale, the updated filing shows it still believes there is demand for regulated access to big cryptocurrencies beyond Bitcoin and Ethereum. Investors will be watching for more updates, especially about fees, staking, and when the SEC might approve the fund.
NEW: @Grayscale files amendment number 3 for their BNB ETF. Ticker will be $GBNB. No fee yet. binancecoin:native pic.twitter.com/fW1oiAr6b8
— James Seyffart (@JSeyff) June 3, 2026
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