Grayscale Seeks SEC Approval for Spot BNB ETF on Nasdaq

Grayscale has submitted a filing to the U.S. Securities and Exchange Commission seeking approval for a spot exchange-traded fund that would track BNB, expanding the asset manager’s push beyond Bitcoin and Ether.

According to a registration statement filed on Friday, the proposed Grayscale BNB ETF would hold BNB (BNB) directly and issue shares intended to mirror the token’s market price, less fees and expenses. The filing states the fund aims to list on Nasdaq under the ticker GBNB, pending regulatory approval.

If approved, the ETF would allow U.S. investors to gain regulated exposure to BNB without managing custody or using crypto exchanges.

The application highlights BNB as the fourth-largest cryptocurrency by market capitalization, with a total value of $120.5 billion at the time of filing. BNB is the native token of the Binance ecosystem and is used to pay transaction fees on the BNB Smart Chain, participate in on-chain governance, and obtain trading fee discounts on Binance’s platform.

Broader push beyond Bitcoin and Ether

Grayscale’s move follows earlier efforts to bring a BNB-linked ETF to the U.S. market. Investment firm VanEck previously filed for its own BNB ETF, including an amended Form S-1, with plans to list on Nasdaq under the ticker VBNB, placing it further along in theStay informed, read the latest news right now!

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