In VanEck’s case, he has already presented his fifth amendment to his proposal.
Grayscale’s proposed fund would be listed on Nasdaq under the symbol GBNB.
Asset management firms VanEck and Grayscale on May 15, 2026 submitted new amendments to their applications to launch BNB-based exchange-traded funds (ETFs). This regulatory move positions the network’s native cryptocurrency BNB Chain as the leading candidate to become the next cryptocurrency with a financial fund traded on Wall Street.
These documentary updates show that companies are actively moving forward in negotiations with the United States Securities and Exchange Commission (SEC). VanEck introduced a new modification to your Form S-1, the formal document required by the government to register a financial product that will be offered to the public.
If approved by the SEC, the investment vehicle called VanEck BNB will be listed on Nasdaq under the symbol VBNB. The initial proposal of this firm was presented in May 2025 and It has already accumulated five changes to adapt to regulatory requirements.
For its part, Grayscale, the second company to join the competition for this market, delivered amendment number two to its registration statement on the same day. This company’s fund would also be listed on Nasdaq under the initials GBNB. Grayscale began its official process in January 2026, maintaining a constant pace in seeking regulatory approval.
Bloomberg Intelligence hedge fund analyst James Seyffart confirmed that there is real progress and directly within the US regulatory body. Seyffart noted that the firms are responding to the SEC’s comments, a common process that suggests an intention to launch commercially in the near future.
Despite the expectation that ETFs can generate, the digital asset experienced a downward trend in the last week. BNB recorded a 2% drop, with the price falling from $668 to $638. The cryptocurrency remains, however, the fourth largest digital asset by market capitalization with $86 billion.
The race to consolidate this financial product also includes the joint proposal of the firms REX Shares and Osprey Funds, as reported by CriptoNoticias. However, this company presents different business strategies. While Grayscale and VanEck prepare funds based solely on the trading price of the cryptocurrency, the REX Shares and Osprey Funds option seeks to incorporate the staking mechanism.