Grayscale has revealed the ticker symbol for its proposed BNB spot exchange-traded fund after filing another amended registration statement with the US Securities and Exchange Commission.
summary
- Grayscale has filed a third amended Form S-1 for its proposed BNB ETF, exposing the Nasdaq GBNB ticker as the SEC’s review of the application continues.
- The updated filing removes the previous BNB shareholding arrangement and confirms BitGo as trustee and BNY Mellon as administrator and transfer agent.
- BNB traded near $636 after losing the $662 Fibonacci support level, while technical indicators point to weak short-term momentum after the recent rally.
According to A Deposit Grayscale has filed with the Securities and Exchange Commission, a third amendment to the S-1 registration statement for the proposed BNB ETF as the regulator continues to review the application. The latest filing identifies GBNB as the ticker to be used if the fund gains approval and is listed on the Nasdaq.
James Seyphart, a Bloomberg ETF analyst, highlighted the index update in a June 3 post, noting that several key details were still missing from the registration statement. The filing does not disclose management fees, whether the fund intends to stake its holdings, or any fee-waiver arrangements.
Grayscale’s proposed product would hold BNB directly, with the fund’s shares designed to track the value of the token held by the fund. The filing continues to identify Grayscale Investments Sponsors LLC as the sponsor of the trust.
Recording also arrives in grayscale Getting ready to go Hyperliquid ETFs. In a separate X publication, Seyphart male The fund is scheduled to trade under the HYPG ticker with a management fee of 0.29%, although trading had not yet begun at the time of the update.
The last recording removes the previous contribution structure
Among the notable changes, the amended filing removes a section titled “Contingent Contribution Arrangement” that appeared in previous versions of the registration statement.
Previous filings described a structure under which the sponsor was discussing a potential arrangement with an investor to acquire shares through an approved participant in exchange for BNB. The updated file no longer includes that language.
While Grayscale did not explain the removal, the modification comes during the SEC’s ongoing review process. Any explanation as to the reason for the change remains speculative, and neither the company nor the regulator has commented publicly on the review.
Elsewhere in the document, Grayscale confirmed that the Bank of New York Mellon would serve as administrator and transfer agent for the trust. BitGo remains listed as the custodian responsible for protecting the ETF’s BNB holdings.
Grayscale joins the growing race for cryptocurrency ETF approvals
Interest in cryptocurrency-backed investment products continues to expand as asset managers seek regulatory approval for funds linked to digital assets beyond Bitcoin and Ethereum.
Within this landscape, Grayscale’s proposed BNB ETF remains under SEC review, with a recent amendment indicating that discussions between the issuer and regulators are still ongoing. Registration statement amendments are typically filed when issuers respond to regulatory comments and requests for additional information.
Recent activity in this sector has extended beyond the gray scale. Such as crypto.news I mentioned Earlier, VanEck launched the BNB spot ETF in the US last week under the symbol VBNB, adding another BNB-focused investment vehicle to the market.
For now, investors are anticipating additional disclosures from Grayscale, particularly regarding fees, custody arrangements and whether staking could play a role in the proposed fund before the SEC reaches a final decision on the application.
BNB is facing resistance after the recent rebound
On the daily chart, BNB (BNB Bank) The price traded near $636 on June 3, down more than 2% on the day after failing to sustain a break above the downtrend line that has capped rallies since January.
The daily chart shows BNB falling below the 23.6% Fibonacci retracement level at around $662 after briefly testing the area earlier this week. Sellers also defended the area near $720, which coincides with the 38.2% Fibonacci level and served as resistance during the recent advance.
Momentum indicators indicate that the rise has entered the cooling phase. The MACD has produced a bearish crossover, with the histogram turning negative after last week’s rise. Meanwhile, the Aroon Up indicator remains above 70 while the Aroon Down indicator is near 57, suggesting that the broader trend has not completely weakened despite the recent pullback.
Hence, if buyers can reclaim the $662 level, the next resistance areas will emerge near $719 and $765.
On the downside, immediate support lies around the $620-600 area, while the lower end of the larger range near $570 remains the key level that the bulls need to defend to prevent a deeper correction.
