Grayscale has taken a significant step by submitting a registration statement to the US Securities and Exchange Commission for approval to launch an exchange-traded fund that will track BNB, the native token of the BNB Chain. The proposed Grayscale BNB ETF aims to hold BNB tokens and reflect the current market price of this asset, minus any associated expenses.
If this ETF is approved, it would be traded on the Nasdaq under the ticker symbol GBNB. The Bank of New York Mellon is set to act as the transfer agent, while Coinbase Custody will serve as the custodian for the fund. BNB itself has a strong market position, ranking as the fourth-largest cryptocurrency by market capitalization, valued at approximately $120 billion, as reported by CoinGecko.
What makes this filing notable is that Grayscale is now the second asset manager to put forth a proposal for a BNB-focused ETF, following VanEck's earlier attempt in May 2025. This development coincides with an increasing number of cryptocurrency ETFs entering the market, as regulatory conditions in the US become more favorable for digital asset investment products.
Many funds tracking various cryptocurrencies, including Solana, XRP, Dogecoin, Hedera, and Chainlink, are already available to investors. In addition, Grayscale is expanding its offerings, currently providing ETFs linked to major cryptocurrencies such as Bitcoin, Ethereum, XRP, Dogecoin, and Chainlink. The company is also in the process of converting its Near-focused trust into an ETF and is strategically positioning itself within the evolving landscape of cryptocurrency investment options.