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As the process for cryptocurrency ETF applications accelerates, Grayscale and VanEck have updated their spot $BNB ETF applications. Bloomberg ETF analyst James Seyffart revealed that Grayscale has filed a second amended S-1 application for its spot $BNB ETF.
Seyffart stated that this update was most likely made in response to feedback from the U.S. Securities and Exchange Commission (SEC) and could indicate that the application is nearing the launch process.
On the same day, VanEck also submitted its fifth updated prospectus for the $BNB ETF to the SEC. Meanwhile, Canary Capital filed its first amended application for a stake-based TRX/Tron ETF, while T. Rowe Price filed its fourth amendment application for an actively managed crypto ETF product. These developments indicate that the SEC continues to simultaneously evaluate multiple cryptocurrency ETF applications.
James Seyffart stated in his assessment, “We have received another amended S-1 application from Grayscale for a $BNB ETF. It is reasonable to assume this is in line with SEC feedback and aims for a launch in the near future. $BNB could be the next crypto asset to receive spot ETF approval in the US.”
*This is not investment advice.