Asset managers Grayscale and VanEck have filed amended S-1 registration statements for their respective spots. $BNB This brings the cryptocurrency one step closer to being approved as a crypto ETF in the United States.
Grayscale filed a second amendment, and VanEck filed a fifth amendment on Friday. The S-1 is one of the key filings that ETF issuers must file with the SEC for approval, detailing everything from the ETF’s structure and strategy to management fees and risks.
Another modified S-1 from “(Grayscale) $BNB ETFs… Should we assume they are going to ignore the feedback from the SEC and launch in the near future? Bloomberg ETF analyst James Seifert said it could be the next crypto asset to get a spot ETF in the US.
in spite of $BNB It is the fourth largest virtual currency with a market capitalization of $87.4 billion, including Solana (SOL), Litecoin (LTC), $XRP ($XRP) and Hyper Liquid (HYPE).
sauce: james seifert
grayscale filed for grayscale $BNB The ETF (GBNB) was launched on January 23, 2026, but GBNB’s fees have not yet been disclosed. VanEck filed the first application against VanEck. $BNB The ETF (VBNB) was founded in May 2025 and proposed a management fee of 0.39% for VBNB.
The number of altcoin ETFs has increased since the SEC introduced a common listing standards process in September, replacing the previous case-by-case application review framework.
Wall Street asset managers also continue to experiment with crypto ETF structures, from staking products and leveraged strategies to futures-linked funds and multi-asset index funds.
Recent launches of hyperliquid ETFs have been suppressed
However, the response to the latest spot altcoin ETF has been muted compared to other ETFs that came before it, with the HyperLiquid ETF published by 21Shares attracting only $1.2 million in net inflows in its opening Thursday.
In contrast, the Bitwise Solana Staking ETF (BSOL) raised $69.5 million on the first day of October. $XRP The ETF (XRPC) brought in $245 million a few weeks after its debut in November.
The majority of net inflows into crypto ETFs remain in Bitcoin (BTC) and Ether (ETH) products, which have accumulated $58.4 billion and $11.8 billion since their inception in 2024.
The US-based Solana ETF recently passed the $1 billion milestone and currently stands at $1.11 billion.
