Crypto ETF issuer Grayscale has filed a registration assertion for a Binance Coin (BNB) ETF with the U.S. Securities and Exchange Commission (SEC). The agency additionally turns into the second to file for a BNB ETF after fellow crypto asset supervisor VanEck.
Grayscale Files To Launch BNB ETF
An SEC filing exhibits that the crypto ETF issuer has filed to launch a Binance Coin ETF. The fund will listing on the Nasdaq beneath the ticker ‘GBNB’ and can present institutional traders with spot publicity to BNB, which has ties to the crypto trade, Binance.
Grayscale listed top crypto exchange Coinbase because the Trust’s prime dealer, whereas the trade’s custody arm will function the Trust’s custodian. Furthermore, the asset supervisor plans to supply in-kind creation and redemption for the BNB ETF. It additionally plans to supply staking, enabling traders to earn yields on their funding.
Meanwhile, the crypto ETF issuer has but to disclose different key particulars, such because the fund’s administration payment and the seed capital. This submitting comes simply two weeks after Grayscale registered the Trust in Delaware, signaling its intention to supply the crypto ETF.
The asset supervisor joins VanEck, which already filed for a BNB ETF within the first half of final 12 months. VanEck already filed amendments to its fund and will launch approach earlier than Grayscale’s fund does. REX Osprey has additionally filed for a Binance Coin ETF however beneath the ’40 Act.
The Binance Coin ETF may very well be Grayscale’s seventh particular person crypto ETF. The asset supervisor already provides Bitcoin, Ethereum, XRP, Solana, Dogecoin, and Chainlink ETFs. Earlier this week, it additionally filed to convert its Near Trust into an ETF. The agency additionally has pending purposes for Bittensor and Zcash ETFs.
The Binance Coin value remained largely unchanged amid this BNB ETF submitting. TradingView knowledge exhibits that the altcoin is at the moment buying and selling at round $887, down from an intraday excessive above $890.
