Grayscale Seeks a BNB-Based Fund

Grayscale has submitted an application to launch an exchange-traded fund based on the price of the BNB token. The filing has been sent to the U.S. Securities and Exchange Commission and marks the first step toward introducing such a product to the American market.

The planned fund will be called the Grayscale BNB Trust and is expected to trade under the ticker symbol GBNB. Its goal is to give investors exposure to BNB without requiring them to directly hold the cryptocurrency. Before the fund can launch, it must still receive regulatory approval, as well as a formal listing application from the Nasdaq exchange.

Grayscale’s move follows a similar proposal from VanEck, which is still awaiting a regulatory decision. Neither proposal includes staking, likely due to ongoing regulatory uncertainty surrounding this practice in the United States.

At present, there is no BNB-based exchange-traded fund available on the U.S. market. European investors, however, already have access to a BNB-linked product offered by 21Shares.