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 accredited US crypto ETF.
Grayscale filed its second modification, whereas VanEck submitted its fifth on Friday. S-1s are one of many most important filings that ETF issuers should undergo the SEC for approval, detailing every part from the ETF’s construction and technique to administration charges and dangers.
“One other amended S-1 from [Grayscale] on the BNB ETF… need to guess they’re going off suggestions from SEC and making an attempt to launch in close to future? Might be the subsequent crypto asset to get a spot ETF within the US,” mentioned 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 checklist 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 payment for GBNB. VanEck made its first submitting for the VanEck BNB ETF (VBNB) in Could 2025 and proposed a 0.39% administration payment for VBNB.
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The variety of altcoin ETFs has grown because the SEC launched a generic itemizing requirements course of in September, changing the earlier case-by-case utility evaluate framework.
Wall Avenue 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 most recent 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 internet 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 internet 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 just lately crossed the $1 billion milestone, at the moment sitting at $1.11 billion.
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