Recent filings with the SEC suggest the Binance Coin (BNB) may be the next altcoin to get a spot ETF in the US. In particular, asset management firms VanEck and Grayscale have repeatedly amended their S-1 registration forms, reflecting regulatory guidance and increasing the likelihood of a launch.
VanEck Issues 5th BNB ETF Revision As ETF Race Heats UpGenerally, Subsequent amendments to ETF filings indicate ongoing dialogue between applicants and the SEC. These changes represent modifications requested by the regulator through formal staff comment letters, covering issues such as redemption mechanics, custody arrangements, staking disclosures, fee structures, and investor protection concerns.
With both revisions from VanEck and Grayscale coming at the same time, it is likely that both asset managers are responding to similar feedback from the SEC, perhaps with near-term approval plans. Following these developments, Seyffart speculates that BNB could emerge as the next cryptocurrency to get a US spot ETF.
The Next Altcoin Spot ETF
