Grayscale Amends BNB ETF Filing, Ticker Confirmed as GBNB

Grayscale has filed an updated S-1 for its BNB ETF with the U.S. Securities and Exchange Commission, inching closer to a listing on Nasdaq. Bloomberg ETF analyst James Seyffart revealed that GBNB will be the ticker, though the issuer has yet to disclose fees or other key details — because nothing in crypto can be too straightforward.

According to the latest SEC filing, Grayscale submitted a third amendment to the S-1 form for the proposed BNB ETF. The investment objective is for the share value to reflect the value of BNB held by the trust. The issuer has not revealed a management fee, staking component, or any waiver in this round. Seyffart flagged the ticker on X: "NEW: @Grayscale files amendment number 3 for their BNB ETF. Ticker will be $GBNB. No fee yet."

The amended filing also drops the Potential Contribution Arrangement section, which had previously allowed a sponsor to sell shares to an authorized participant in exchange for BNB tokens. Grayscale Investments Sponsors LLC is confirmed as the sole sponsor of the trust, with The Bank of New York Mellon serving as administrator and transfer agent, and BitGo acting as custodian. The adjustments likely respond to SEC feedback during the review process. Separately, VanEck launched the first spot BNB ETF in the United States last week under the ticker VBNB on Nasdaq.

BNB price fell roughly 6% over the past 24 hours, cooling off after a more than 13% rally sparked by the VanEck BNB ETF launch. The token is trading at $631.93, with a 24-hour low of $630.93 and a high of $674.87. Trading volume climbed about 11% over the same period as traders repositioned following the broader Bitcoin price crash.

CoinGlass data points to selling sentiment in the derivatives market. Total BNB futures open interest dropped 10% to $1.03 billion, with declines of 11.23% on Binance, 18.10% on OKX, and 0.24% on Bybit.

In other news, Grayscale launched its Hyperliquid Staking ETF today. It trades under the ticker HYPG on Nasdaq, carrying a 0.29% management fee.