BNB ETF Race Speeds Up as Major Firms File New SEC Amendments

Grayscale, VanEck, and Canary Capital submitted updated crypto ETF filings, including BNB as SEC reviews continue across digital asset markets.

The competition for a spot in a BNB ETF is growing stronger in the United States. Several large investment firms submitted updated filings to the U.S. Securities and Exchange Commission this week.

These filings show that companies continue pushing for regulated crypto investment products. Moreover, investors are watching closely for possible approval signals from regulators.

Bloomberg ETF analyst James Seyffart shared details about the new filings through a post on X. He said Grayscale filed its second amended S-1 form for a spot BNB ETF. According to Seyffart, the company may be responding to comments from the SEC. Therefore, some market participants believe Grayscale wants to launch the product soon.

Grayscale first filed for the spot BNB ETF on Jan. 23, 2026. The company requested approval to list the product on Nasdaq. Furthermore, the ETF would track the market value of Binance Coin, also known as BNB. The filing also mentioned regulated exposure to digital assets through traditional investment markets.

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At the same time, VanEck submitted its fifth amended prospectus for its own BNB ETF proposal. The company plans to use the ticker symbol VBNB. VanEck registered its trust earlier than several competitors. As a result, many investors believe the company remains ahead in the approval process.

SEC Reviews Expand Beyond Bitcoin and Ethereum Products

Both Grayscale and VanEck removed staking features from their latest filings. This step may help reduce regulatory concerns during the review process. Staking allows users to earn rewards by locking digital assets on blockchain networks. However, the SEC has raised concerns about staking services in previous crypto cases.

Meanwhile, Canary Capital also submitted its first amended filing for a Staked TRX ETF linked to Tron. The proposed fund would offer exposure to TRX while including staking rewards. This filing shows that companies continue exploring new crypto products despite ongoing uncertainty in the market.

In addition, T. Rowe Price submitted its fourth amendment for an actively managed crypto ETF. The repeated updates from several firms suggest active discussions with the SEC. Therefore, many experts believe regulators will continue reviewing crypto ETF products carefully.

Earlier crypto ETF approvals mostly focused on Bitcoin and Ethereum. However, firms now want to expand investment products into other digital assets. BNB remains one of the largest cryptocurrencies by market value. Because of this, many companies believe investors could show strong interest in a regulated BNB product.

The growing number of ETF filings also highlights stronger institutional interest in digital assets. Large firms continue entering the crypto market through regulated investment tools. Moreover, repeated SEC amendments often signal ongoing communication between regulators and companies.

James Seyffart said the recent amendments may indicate progress in the approval process. However, the SEC has not provided any official timeline for decisions on the BNB ETF applications. Still, many investors expect more crypto ETF developments during 2026 as companies continue expanding beyond Bitcoin and Ethereum products.

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