VanEck, Grayscale file fresh BNB ETF amendments as race for next altcoin spot ETF accelerates
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A pair of SEC filings on Friday from VanEck and Grayscale signaled that the long-running race to launch the first U.S. spot BNB ETF may be entering its final stretch, while Canary Capital advances its staking Tron ETF proposal.
Key facts
- BNB is trading at about $657.23 as of publication time, down 2.4% in the past 24 hours, per The Block's BNB Price page
- The Nashville-based asset manager filed Amendment No. 1 to its Canary Staked TRX ETF S-1 on Friday
- VanEck filed Amendment No. 5 to its Form S-1 for the VanEck BNB ETF, which is set to list on Nasdaq under the ticker VBNB
- The two trusts would each hold BNB directly and list under Nasdaq Rule 5711(d) for Commodity-Based Trust Shares
Summary
VanEck filed Amendment No. 5 to its Form S-1 for the VanEck BNB ETF, which is set to list on Nasdaq under the ticker VBNB. Grayscale, the second issuer to enter the BNB ETF race, filed Amendment No. 2 to its own registration statement on the same day. Bloomberg Intelligence ETF analyst James Seyffart said on X that the parallel activity suggested both issuers are responding to SEC feedback and could be aiming for a near-term launch. Both filings continue to exclude staking at launch, a feature VanEck stripped from its proposal last November amid lingering U.S. regulatory uncertainty around treating staking yield as a security, though the proposals contain conditional staking language.