Crypto ETF issuer Grayscale has filed a registration assertion for a Binance Coin (BNB) ETF with the U.S. Securities and Change Fee (SEC). The agency additionally turns into the second to file for a BNB ETF after fellow crypto asset supervisor VanEck.
Grayscale Information To Launch BNB ETF
An SEC submitting exhibits that the crypto ETF issuer has filed to launch a Binance Coin ETF. The fund will listing on the Nasdaq below the ticker ‘GBNB’ and can present institutional buyers with spot publicity to BNB, which has ties to the crypto change, Binance.
Grayscale listed prime crypto change Coinbase because the Belief’s prime dealer, whereas the change’s custody arm will function the Belief’s custodian. Moreover, the asset supervisor plans to supply in-kind creation and redemption for the BNB ETF. It additionally plans to supply staking, enabling buyers to earn yields on their funding.
In the meantime, the crypto ETF issuer has but to disclose different key particulars, such because the fund’s administration price and the seed capital. This submitting comes simply two weeks after Grayscale registered the Belief in Delaware, signaling its intention to supply the crypto ETF.
The asset supervisor joins VanEck, which already filed for a BNB ETF within the first half of final yr. VanEck already filed amendments to its fund and will launch approach earlier than Grayscale’s fund does. REX Osprey has additionally filed for a Binance Coin ETF however below the ’40 Act.
Grayscale’s Crypto Choices Proceed To Increase
The Binance Coin ETF could possibly be Grayscale’s seventh particular person crypto ETF. The asset supervisor already provides Bitcoin, Ethereum, XRP, Solana, Dogecoin, and Chainlink ETFs.
Earlier this week, it additionally filed to transform its Close to Belief into an ETF. The agency additionally has pending functions for Bittensor and Zcash ETFs. These crypto ETF functions come forward of a possible U.S. IPO this yr, because the asset supervisor already filed an S-1 with the SEC for the general public providing.
In the meantime, Binance founder Changpeng “CZ” Zhao commented on Grayscale’s BNB ETF submitting. In an X submit, he described the transfer as a “small step in serving to to make America the Capital of Crypto, by giving entry to the third largest crypto.”
The Binance Coin worth climbed following the BNB ETF submitting. TradingView information exhibits the altcoin is buying and selling round $902, up virtually 2% during the last 24 hours. BNB is up over 4% year-to-date (YTD) however down over 3% within the final 5 days amid the crypto market’s current downtrend.
