Grayscale has officially entered the BNB ETF race. The firm has filed a registration statement with the U.S. SEC for the Grayscale BNB ETF, which would trade under the ticker GBNB on Nasdaq if approved. The ETF is designed to hold BNB, the native token of the BNB Chain, a blockchain closely tied to Binance.
BNB is currently the fourth-largest cryptocurrency, with a market cap of around $121 billion. The filing names BNY Mellon as transfer agent and Coinbase Custody as custodian. Grayscale becomes the second issuer after VanEck to propose a BNB ETF, as crypto ETF filings continue to accelerate amid a more favorable U.S. regulatory environment.
