Grayscale Files for BNB Spot ETF, Following VanEck’s Bid

Grayscale has filed a registration statement with the SEC to launch a spot ETF tracking Binance’s BNB token, named the Grayscale BNB Trust (ticker: GBNB). The fund would allow investors exposure to BNB without direct ownership. However, approval depends on Nasdaq submitting a 19b-4 form and SEC clearance. This follows VanEck’s earlier BNB ETF filing, which remains unapproved. Grayscale’s proposal excludes staking, reflecting regulatory uncertainty in the U.S., where no BNB ETF currently trades. The filing adds to Grayscale’s recent crypto ETF activity, including proposals for NEAR and other tokens.