Recent filings with the Securities and Exchange Commission suggest that Binance Coin (BNB) could be the next altcoin to get an ETF in the US. In particular, asset management firms VanEck and Grayscale have repeatedly amended their S-1 filing forms, reflecting regulatory guidance and increasing the likelihood of a launch.
VanEck releases fifth review of BNB ETF as ETF race heats up
In a Last post On Day The original application for this ETF came in May 2025, amid a period of expected filings and approvals for several altcoin ETFs, in line with US President Donald Trump’s pro-crypto agenda.
Since his inauguration in January 2025, the SEC has approved spot-related ETFs. XRPSolana (Sol), Dogecoin (DOGE)Chainlink (LINK) and Litecoin (LTC), among other cryptocurrencies. Alongside VanEck, Grayscale has also released a second revision to its Grayscale BNB ETF, as the asset manager looks to add another product to its existing nine-point ETF. Grayscale released its first amendment in April 2025, following discussions on its initial filings in January 2025.
Yes. There is certainly movement at the SEC regarding a potential Binancecoin: Native ETF launch. @vaneck_us They have just submitted a revised prospectus for Binancecoin: Native ETF. This is the fifth amendment. Yes fifth. https://t.co/jdVjPZ3f72 pic.twitter.com/LvAhNZ7hkf
– James Seyff (@JSeyff) May 15, 2026
Overall, subsequent amendments to ETF filings indicate ongoing dialogue between applicants and the SEC. These changes represent amendments requested by the regulator through formal staff comment letters, covering issues such as recovery mechanisms, custody arrangements, mortgage disclosures, fee structures, and investor protection concerns.
With both revisions from VanEck and Grayscale coming out at the same time, both asset managers will likely respond to similar comments from the SEC, perhaps with near-term approval plans. Following these developments, Seyphart expects BNB to emerge as the next cryptocurrency to get an ETF in the US.
Next Altcoin Spot ETF
Besides Binance Coin, other cryptocurrencies with a potential Spot ETF launch include SEI (SEI), Cardano (ADA), and Tron (TRX). It is worth noting that Canary Capital has also recently applied Amendment No. 1 To the S-1 for the Canary Staked TRX ETF. The ETF structure remains a critical means of driving institutional adoption of virtual cryptocurrencies by eliminating custody complexities and aligning with existing compliance frameworks.
Since its launch in 2024, Bitcoin ETFs It has emerged among the best-performing ETFs globally, with cumulative total net flows. The next asset is $58.34 billion, with net assets of $104.29 billion. For assets like BNB, ADA, and SEI, a similar dynamic could be repeated, of course on a smaller scale, given their relative market capitalization.
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