Latest filings with the SEC counsel the Binance Coin (BNB) will be the subsequent altcoin to get a spot ETF within the US. Particularly, asset administration corporations VanEck and Grayscale have repeatedly amended their S-1 registration types, reflecting regulatory steerage and growing the chance of a launch.
VanEck Points fifth BNB ETF Revision As ETF Race Heats Up
In a latest put up on X, Bloomberg analyst James Seyffart shared that VanEck had filed Modification No. 5 to the S-1 for its VanEck BNB ETF, trying to launch beneath the ticker VBNB. The unique software for this ETF got here in Could 2025, amid a interval of filings and anticipated approvals for a number of altcoin spot ETFs, in keeping with US President Donald Trump’s pro-crypto agenda.
Since his inauguration in January 2025, the SEC has accepted spot ETFs tied to XRP, Solana (SOL), Dogecoin (DOGE), Chainlink (LINK), and Litecoin (LTC), amongst different cryptocurrencies. Alongside VanEck, Grayscale has additionally issued a second modification to its Grayscale BNB ETF, because the asset supervisor seems so as to add one other product to its current nine-spot ETFs. Grayscale issued its first modification in April 2025, following discussions of its preliminary filings in January 2025.
Yup. Undoubtedly motion on the SEC almost about a possible binancecoin:native ETF launch. @vaneck_us simply filed an amended prospectus for his or her binancecoin:native ETF. That is their FIFTH modification. Sure fifth. https://t.co/jdVjPZ3f72 pic.twitter.com/LvAhNZ7hkf
— James Seyffart (@JSeyff) Could 15, 2026
Usually, Subsequent amendments to ETF filings point out ongoing dialogue between candidates and the SEC. These adjustments characterize modifications requested by the regulator by way of formal employees remark letters, masking points resembling redemption mechanics, custody preparations, staking disclosures, payment constructions, and investor safety issues.
With each revisions from VanEck and Grayscale coming on the identical time, it’s doubtless that each asset managers are responding to related suggestions from the SEC, maybe with near-term approval plans. Following these developments, Seyffart speculates that BNB might emerge as the subsequent cryptocurrency to get a US spot ETF.
The Subsequent Altcoin Spot ETF
Alongside Binance Coin, different cryptocurrencies with a potential Spot ETF launch in view embody SEI (SEI), Cardano (ADA), and Tron (TRX). Notably, Canary Capital had additionally just lately filed Modification No. 1 to its S-1 for its Canary Staked TRX ETF. The ETF construction stays a important technique of driving institutional adoption of digital cryptocurrencies by eliminating custody complexity and aligning with current compliance frameworks.
Since their launch in 2024, Spot Bitcoin ETFs have emerged as among the many best-performing ETFs globally, with complete cumulative internet inflows. And the subsequent asset is $ 58.34 billion, with internet property of $104.29 billion. For property resembling BNB, ADA, and SEI, the same dynamic might repeat, naturally at a smaller scale, given their relative market capitalizations.
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