Grayscale Files for Spot Binance Coin ETF

Grayscale Investments has recently filed with the U.S. regulators to launch a spot exchange-traded fund (ETFs) focused on BNB, the digital asset closely tied to the Binance ecosystem. 

The move shows that major asset managers are increasingly interested in regulated investment products tied to major cryptocurrencies. This interest is now expanding beyond Bitcoin (BTC) and Ethereum (ETH) to other major digital assets.

Grayscale Takes First Step Toward Spot BNB ETF Launch

As revealed in a recent X post, Grayscale registered a statutory trust in Delaware as an early step toward launching a spot BNB ETF. This filing is a basic setup step that usually comes before a formal application is sent to the U.S. Securities and Exchange Commission (SEC). 

The registration places Grayscale among firms preparing to offer regulated exposure to BNB in the public markets. Following the trust registration, Grayscale filed a registration statement with the SEC for the Grayscale BNB ETF. 

The proposed fund is designed to hold BNB, the native token of the BNB Chain. The filing said the ETF would directly track the digital asset by holding it on behalf of investors. It would not rely on derivatives or futures contracts.

BNB’s Market Size and Custody Partners Highlight ETF Ambitions

BNB is the main token of the BNB Chain, a blockchain network with over active 2.4 million users. BNB is one of the biggest digital coins by market value at about $121 billion, making it attractive to large investors and institutions.

If regulators approve the proposal, the Grayscale BNB ETF would trade on the Nasdaq Stock Market under the ticker symbol GBNB. The filing names Bank of New York Mellon as the transfer agent. 

Coinbase Custody Trust Company would act as the custodian and safeguard the digital assets. These partnerships reflect the use of established financial institutions to support crypto-based investment products.

Following the announcement, BNB price saw a modest rise. At the time of writing, the digital asset is trading at $888.68, up by 0.48% in the last 24 hours, according to CoinMarketCap data. 

Grayscale Expands Its Crypto ETF Push

Grayscale is the second asset manager to seek a spot BNB ETF after VanEck, which filed a similar proposal in May 2025. This move comes as more crypto ETFs are being launched across the United States.

Over the past year, funds tracking assets such as Solana, XRP, Dogecoin, Hedera, and Chainlink have entered the market. This movement is supported by a more favorable regulatory and political environment for digital assets.

The proposed BNB ETF adds to Grayscale’s growing list of exchange-traded funds tied to major cryptocurrencies. The firm already offers ETFs linked to Bitcoin, Ethereum, XRP, Dogecoin, and Chainlink.

Grayscale is also working to convert its Near-based closed-end trust into an ETF. This shows the company’s plan to expand access to other digital assets through traditional investment products.