In an attention-grabbing improvement, Grayscale has utilized to the US Securities and Trade Committee to launch a spot exchange-traded fund (ETF) linked to BNB, the Binance Ecosystem’s native token. This transfer marks an influence play by the asset administration agency to additional set up itself within the cryptocurrency area.
Grayscale Appears to be like To Add To Record Of Crypto-Linked ETFs
On Friday, January 23, Grayscale filed an S-1 registration assertion with the SEC to launch a spot BNB exchange-traded fund within the US. In line with the SEC submitting, the proposed Grayscale ETF would maintain the Binance ecosystem’s native token straight and subject shares designed to trace the token’s market worth.
This Grayscale funding product, if permitted, would supply US buyers publicity to the BNB token with out having to personal or maintain the asset themselves. The asset supervisor’s registration assertion additionally revealed that the exchange-traded fund would commerce on the Nasdaq change below the ticker image GBNB, topic to regulatory approval.
Supply: SEC
It’s value mentioning that Grayscale shouldn’t be the primary asset supervisor to file for a spot BNB ETF, as VanEck utilized way back to April 2025. Nevertheless, this newest submitting displays the agency’s resolve to increase its listing of crypto-linked funding merchandise, particularly after the profitable launch of the Bitcoin and Ethereum ETFs.
It was at all times solely a matter of time earlier than BNB, the fourth-largest cryptocurrency by market capitalization, acquired further consideration from establishments targeted on exchange-traded merchandise. As such, this transfer by Grayscale has caught the eye of the cryptocurrency market, together with former Binance CEO Changpeng ‘CZ’ Zhao.
In a Friday put up on the social media platform X, CZ mentioned that Grayscale’s submission of its S-1 submitting to the SEC represents a small step towards making the US the capital of crypto. “A small step in serving to to make America the Capital of Crypto, by giving entry to the third largest crypto,” the Binance co-founder wrote on Friday.
In the meantime, Bloomberg ETF professional James Seyffart concurred {that a} spot ETF approval might imply that the BNB token shall be labeled as a commodity moderately than a safety. It is because the approval of an exchange-traded fund is usually a sign that the SEC views the underlying asset as a commodity moderately than as a safety.
BNB Value At A Look
After making a play for $900 on Friday afternoon, the worth of BNB now stands at round $890. In line with knowledge from CoinGecko, the fourth-largest cryptocurrency is down by almost 5% prior to now seven days.
The worth of BNB on the every day timeframe | Supply: BNBUSDT chart on TradingView
Featured picture from Shutterstock, chart from TradingView
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