BNB Emerges as Potential Next U.S. Spot Crypto ETF After New SEC Filings

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• VanEck and Grayscale filed new BNB ETF amendments, keeping both spot product proposals active in the SEC review process.
• BNB trades near $652 as analysts watch $645 to $650 support and a possible move toward $690 resistance.

BNB has moved closer to the front of the U.S. crypto ETF queue after fresh filings from VanEck and Grayscale renewed attention around a potential spot product. On May 16, VanEck submitted its fifth amendment to the VanEck BNB ETF registration statement, while Grayscale filed a second amendment to its own Grayscale BNB ETF prospectus on the same day. 

The parallel updates suggest that both issuers are still actively working through the SEC review process as competition widens beyond Bitcoin and Ethereum. Bloomberg Intelligence ETF analyst James Seyffart said the twin filings could mean BNB is emerging as the next major crypto asset in line for a U.S. spot ETF.

VanEck’s proposed fund would trade on Nasdaq under the ticker VBNB, while Grayscale’s version would use GBNB if approved. Both filings keep the products structured as spot trusts that hold BNB directly. Each proposal is designed to list under Nasdaq Rule 5711(d), which covers commodity-based trust shares, and VanEck said its trust would price against the MarketVector BNB Index.

VanEck first submitted its BNB ETF proposal in May 2025 and has since updated it several times. Grayscale joined the race later, filing its initial S-1 in January 2026 and following with additional revisions in April and now May. Those updates indicate that both firms are still refining their products rather than shelving them.

Both issuers continue to exclude staking at launch, even though the documents retain conditional language around the feature. That keeps the products closer to the traditional spot ETF format that regulators have already reviewed in other crypto filings. 

Meanwhile, Canary Capital added another layer to the broader altcoin ETF race by amending its staked TRX ETF proposal. This time, formalizing staking as a secondary investment objective and naming U.S. Bancorp Fund Services, U.S. Bank, BitGo, and CSC Delaware Trust Company as service providers.

SEC Amendments Put BNB in Sharper Focus

The timing of the new BNB filings has strengthened the view that issuers are responding to direct SEC feedback. James Seyffart said on X that the matched activity from VanEck and Grayscale suggested both firms may be preparing for a near-term launch window if the regulator continues to engage constructively. That places BNB in a more advanced position than many other altcoin ETF candidates still sitting earlier in the process.

BNB remains one of the largest crypto assets by market capitalization and already trades with deep liquidity across global venues. While the SEC has not signaled a decision, the renewed filing cadence shows that BNB is part of the active U.S. spot fund discussion.

However, the daily chart shows BNB still trading inside an ascending channel after forming a series of higher highs and higher lows.

BNB price prediction now points to the $645 to $650 area as the key support zone. A retest of that range could decide whether buyers have enough strength to push the price toward another higher high.

BNBUSD 1-Day Chart | Source: X

Meanwhile, recent market analysis has also pointed to a possible double-bottom setup. Traders are watching resistance near $690, with $765 and $815 as the next upside areas if buyers regain control.