BNB ETF Race Heats Up: VanEck, Grayscale Update SEC Filings

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<a href="https://pricpr.com/bnb-usd/">BNB</a> ETF race tightens as VanEck and Grayscale update SEC filings

VanEck and Grayscale have updated their applications for spot BNB exchange-traded funds (ETFs), renewing focus on which altcoin ETF might be approved in the U.S. next.

Summary

  • VanEck and Grayscale filed new BNB ETF amendments as altcoin ETF competition moves faster.
  • Both BNB ETF proposals plan direct token exposure but keep staking out at launch.
  • Canary’s TRX filing takes a different route by placing staking inside the fund structure.

These submissions are happening as investment firms try to understand how much further the SEC will go in approving products beyond just Bitcoin and Ethereum.

On May 15th, VanEck updated its filing for the VanEck BNB ETF. If approved, the ETF is planned to trade on Nasdaq with the ticker symbol VBNB. According to the filing, the fund would directly hold BNB and operate under Nasdaq’s rules for commodity trusts.

Grayscale keeps BNB plan alive

As an analyst, I’ve been following Grayscale’s ETF plans closely. They recently updated their registration statement for a proposed BNB ETF. This ETF, structured as a Delaware statutory trust established on January 8, 2026, is designed to hold BNB tokens specifically associated with the BNB Smart Chain.

In my research, I’ve found that the trust aims to mirror the value of the BNB it holds, after deducting any expenses and debts. The documents also mention staking, but it’s important to note that staking won’t necessarily be available right away. Whether or not we activate staking at launch depends on meeting all the necessary regulatory requirements and operational checks.

The documents filed for the BNB ETF also suggest a cautious approach to staking. The initial plans concentrate on direct BNB holdings, intentionally leaving staking out of the immediate launch. This likely stems from uncertainty about how staking rewards can comply with regulations for U.S.-based ETFs.

Canary Capital is changing its approach to the Canary Staked TRX ETF. A recent update, filed on May 15th, details a fund that will invest in TRX and also earn rewards through staking. This filing, labeled as Amendment No. 1 to Form S-1, officially names the product the Canary Staked TRX ETF.

Altcoin ETF queue keeps expanding

These filings are happening alongside a growing number of applications for alternative cryptocurrency (altcoin) exchange-traded funds (ETFs). Crypto.news recently noted that Grayscale is considering several digital assets – including TRX, HYPE, TON, and ENA – for potential future products, with a target date of Q2 2026. The report also revealed that Grayscale has officially applied to launch a spot ETF for HYPE.

According to crypto.news, experts believe the future success of altcoins will likely hinge on whether or not exchange-traded funds (ETFs) are approved. Several ETF applications, including those for SOL, XRP, HBAR, LTC, and TRX, are currently being reviewed by the Securities and Exchange Commission (SEC).

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2026-05-17 12:45