Latest filings with the SEC counsel the Binance Coin (BNB) stands out as the subsequent altcoin to get a spot ETF within the US. Particularly, asset administration companies 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 submit on X, Bloomberg analyst James Seyffart shared that VanEck had filed Modification No. 5 to the S-1 for its VanEck BNB ETF, seeking to launch underneath the ticker VBNB. The unique software for this ETF got here in Might 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.Â
Since his inauguration in January 2025, the SEC has permitted 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 appears so as to add one other product to its present nine-spot ETFs. Grayscale issued its first modification in April 2025, following discussions of its preliminary filings in January 2025.
Yup. Positively motion on the SEC as regards to 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. pic.twitter.com/LvAhNZ7hkf
— James Seyffart (@JSeyff) Might 15, 2026
Usually, Subsequent amendments to ETF filings point out ongoing dialogue between candidates and the SEC. These modifications symbolize modifications requested by the regulator by formal workers remark letters, masking points resembling redemption mechanics, custody preparations, staking disclosures, charge buildings, and investor safety issues.Â
With each revisions from VanEck and Grayscale coming on the identical time, it’s seemingly that each asset managers are responding to comparable 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.Â
The Next Altcoin Spot ETFÂ
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 not too long ago filed Modification No. 1 to its S-1 for its Canary Staked TRX ETF. The ETF construction stays a essential technique of driving institutional adoption of digital cryptocurrencies by eliminating custody complexity and aligning with present compliance frameworks.
Since their launch in 2024, Spot Bitcoin ETFs have emerged as among the many best-performing ETFs globally, with whole cumulative web inflows. And the subsequent asset is $ 58.34 billion, with web property of $104.29 billion. For property resembling BNB, ADA, and SEI, an analogous dynamic might repeat, naturally at a smaller scale, given their relative market capitalizations.
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