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Grayscale Seeks SEC Approval for Spot BNB ETF With Proposed Staking

The filing kicks off a months-long SEC review with operational partners named but fees and timing still undisclosed.

Grayscale’s BNB ETF filing fails to spark breakout as BNB remains range-bound
Grayscale files for etf tracking binance's bnb token, following vaneck’s bid
Binance coin price forms a risky pattern as grayscale files s 1 for bnb etf
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Overview

  • Grayscale submitted a Form S-1 on Jan. 23 to launch the Grayscale BNB ETF, which would hold BNB directly and target a U.S. listing under the ticker GBNB.
  • The proposal names Coinbase Custody as custodian and BNY Mellon as transfer agent, and it outlines in-kind creation and redemption mechanics.
  • Grayscale’s filing includes a plan to incorporate staking within the ETF structure, though regulatory approval of that feature remains uncertain.
  • The application enters the SEC review process with approval not guaranteed and key commercial terms—including management fee, seed capital, and launch date—yet to be detailed.
  • Competition is active with VanEck’s earlier BNB ETF filing seen as further along and additional approaches from REX/Osprey, while BNB’s price reaction has been muted around $890–$900.