TLDR
- Grayscale files S-1 for BNB ETF, seeking approval to list on Nasdaq.
- The proposed Grayscale BNB ETF would hold BNB tokens and track its price.
- BNB is the fourth-largest crypto asset, with a market cap of $120 billion.
- Grayscale joins VanEck in seeking approval for a BNB-focused ETF in 2025.
On January 23, 2026, Grayscale filed a registration statement with the U.S. Securities and Exchange Commission (SEC) seeking approval to launch a new exchange-traded fund (ETF) focused on BNB. The proposed ETF aims to give investors direct exposure to BNB, the native token of the BNB Chain.
If approved, the fund would trade on the Nasdaq exchange under the ticker symbol GBNB. Grayscale’s move marks another step in the growing trend of crypto ETFs, as regulatory conditions in the U.S. have become more favorable toward digital asset investment products.
Details of the Grayscale BNB ETF
The Grayscale BNB ETF will hold BNB tokens and aim to track the market price of the asset, minus expenses. As the fourth-largest cryptocurrency by market capitalization, with a current value of approximately $120 billion, BNB has become a prominent digital asset in the crypto space. The ETF’s listing on Nasdaq would give U.S. investors an accessible option for gaining exposure to BNB without the need to purchase or store the tokens directly.
The ETF’s custodian will be Coinbase Custody, a trusted name in digital asset custody, while Bank of New York Mellon will act as the transfer agent for the fund. This partnership highlights the importance of security and compliance in the growing crypto ETF market.
Grayscale Joins VanEck in BNB ETF Effort
Grayscale’s filing comes after VanEck’s attempt in May 2025 to launch a similar BNB-focused ETF. VanEck’s filing for a BNB ETF was one of the first in the space, as firms increasingly look to offer products that allow for easier investment in cryptocurrency. The approval of a BNB ETF by the SEC could pave the way for more digital asset ETFs, including products tracking other prominent cryptocurrencies like Solana, XRP, and Dogecoin.
The growing number of crypto ETFs signals a broadening acceptance of digital assets in traditional financial markets. Investors are increasingly seeking ways to invest in cryptocurrency in a regulated and secure manner, and ETFs are seen as a convenient way to access these assets.
Grayscale’s Expanding ETF Lineup
Grayscale has already made a name for itself in the digital asset ETF space. The firm offers ETFs tied to Bitcoin, Ethereum, XRP, Dogecoin, and Chainlink. The launch of a BNB ETF would expand its product lineup even further, offering investors more choices in the digital asset space.
Grayscale has also expressed its interest in converting its Near Protocol-focused trust into an ETF, further showing the firm’s commitment to the growing crypto investment market.
As crypto ETFs become more popular and accepted, Grayscale’s filings for new products signal its readiness to meet the demand from investors seeking exposure to a range of digital assets. The SEC’s approval of Grayscale’s BNB ETF could spark a new wave of interest in BNB and similar cryptocurrencies, helping further integrate digital assets into mainstream investment portfolios.
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