Asset managers Grayscale and VanEck filed amended S-1 registration statements for his or her respective spot BNB exchange-traded funds on Friday, bringing the cryptocurrency one step nearer to changing into an accepted US crypto ETF.
Grayscale filed its second modification, whereas VanEck submitted its fifth on Friday. S-1s are one of many principal filings that ETF issuers should undergo the SEC for approval, detailing every thing from the ETF’s construction and technique to administration charges and dangers.
“One other amended S-1 from [Grayscale] on the BNB ETF… must guess they’re going off suggestions from SEC and attempting to launch in close to future? May very well be the subsequent crypto asset to get a spot ETF within the US,” stated Bloomberg ETF analyst James Seyffart.
Regardless of BNB being the fourth-largest cryptocurrency by market cap at $87.4 billion, it has but to be included within the rising record of US spot altcoin ETFs, together with these monitoring Solana (SOL), Litecoin (LTC), XRP (XRP) and Hyperliquid (HYPE).
Supply: James Seyffart
Grayscale filed for the Grayscale BNB ETF (GBNB) on Jan. 23, 2026, and has but to reveal a charge for GBNB. VanEck made its first submitting for the VanEck BNB ETF (VBNB) in Could 2025 and proposed a 0.39% administration charge for VBNB.
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The variety of altcoin ETFs has grown for the reason that SEC launched a generic itemizing requirements course of in September, changing the earlier case-by-case utility overview framework.
Wall Road asset managers have additionally continued to experiment with crypto ETF buildings, from staked merchandise and leveraged methods to futures-linked and multi-asset index funds.
Current Hyperliquid ETF launch tempered
Nonetheless, reception to the newest spot altcoin ETF has been lukewarm in comparison with others earlier than it, with the 21Shares-issued Hyperliquid ETF solely attracting $1.2 million in web inflows on Thursday, its opening day.
In contrast, the Bitwise Solana Staking ETF (BSOL) attracted $69.5 million on its opening day in October, whereas the Canary XRP ETF (XRPC) introduced in $245 million a number of weeks afterward debut in November.
The lion’s share of web inflows for crypto ETFs has remained in Bitcoin (BTC) and Ether (ETH) merchandise, which have amassed $58.4 billion and $11.8 billion since launching in 2024.
US-based Solana ETFs lately crossed the $1 billion milestone, at present sitting at $1.11 billion.
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