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 steering and rising 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, trying to launch beneath the ticker VBNB. The unique utility for this ETF got here in Might 2025, amid a interval of filings and anticipated approvals for a number of altcoin spot ETFs, consistent with US President Donald Trump’s pro-crypto agenda.
Since his inauguration in January 2025, the SEC has authorized 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. 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) Might 15, 2026
Typically, Subsequent amendments to ETF filings point out ongoing dialogue between candidates and the SEC. These adjustments characterize modifications requested by the regulator by formal workers remark letters, protecting points corresponding to redemption mechanics, custody preparations, staking disclosures, price buildings, and investor safety considerations.
With each revisions from VanEck and Grayscale coming on the similar time, it’s possible 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.
The Subsequent Altcoin Spot ETF
Alongside Binance Coin, different cryptocurrencies with a potential Spot ETF launch in view embrace SEI (SEI), Cardano (ADA), and Tron (TRX). Notably, Canary Capital had additionally 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 present compliance frameworks.
Since their launch in 2024, Spot Bitcoin ETFs have emerged as among the many best-performing ETFs globally, with whole cumulative internet inflows. And the subsequent asset is $ 58.34 billion, with internet property of $104.29 billion. For property corresponding to BNB, ADA, and SEI, an identical dynamic might repeat, naturally at a smaller scale, given their relative market capitalizations.
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