Grayscale Files for Binance Coin ETF, Joining VanEck
- Grayscale has filed a registration statement with the SEC to launch a Binance Coin (BNB) ETF, under the ticker ‘GBNB’ on Nasdaq.
- The ETF aims to provide institutional investors with spot exposure to BNB, which is linked to Binance.
- Coinbase will act as the prime broker and custodian for the Trust, which plans to offer staking options for investors.
- This filing follows Grayscale’s recent registration of the Trust in Delaware and comes two weeks after its application.
- Grayscale becomes the second firm to file for a BNB ETF, following VanEck’s earlier submission in the first half of last year.
The move by Grayscale is part of its broader strategy to expand its crypto ETF offerings, which already include products based on Bitcoin and Ethereum. The Binance Coin price rose nearly 2% following the announcement, reflecting positive market sentiment around this new product.
With this filing, Grayscale could soon add a seventh individual crypto ETF to its portfolio, enhancing access to one of the largest cryptocurrencies by market cap.(Source)
