VanEck and Grayscale have submitted fresh amendments to their spot BNB ETF applications, signaling active engagement with the SEC as competition intensifies for the next altcoin ETF.
VanEck and Grayscale have filed new amendments to their spot BNB ETF applications, advancing the regulatory race to bring the first Binance Coin exchange-traded fund to U.S. markets. VanEck has now submitted five amendments since its original filing. Both proposed ETFs would directly hold BNB and trade on Nasdaq if approved, according to Bloomberg ETF analyst James Seyffart, who noted the filings suggest active SEC engagement.
The amendment activity reflects the competitive dynamics in the altcoin ETF space following approvals of Bitcoin and Ethereum spot ETFs. The BNB ETF race has drawn multiple applicants seeking to capitalize on demand for exposure to the Binance ecosystem’s native token.
Both VanEck and Grayscale have excluded staking from their initial ETF proposals, citing ongoing regulatory uncertainty around staking arrangements. The decision to exclude staking functionality at launch reflects caution in how crypto asset features are treated under U.S. securities regulation.
Separately, Canary Capital updated its staked TRX ETF filing on Friday, continuing activity in the broader altcoin ETF pipeline. The SEC has yet to approve any spot altcoin ETF beyond Bitcoin and Ethereum.
This article was produced with the help of AI flows.