VanEck, Grayscale Update Spot BNB ETF Filings, Drop Staking to Speed Launches

BNB is the native token of BNB Chain and is used to pay transaction fees and access onchain applications. As the U.S. spot crypto ETF market expands beyond Bitcoin and Ether into altcoins, BNB’s inclusion would determine whether investors can gain exposure through brokerage accounts. VanEck and Grayscale are competing to offer such products, with staking arrangements also under SEC scrutiny.

On May 15, 2026, VanEck filed its fifth amended S-1 and Grayscale its second, with neither fund set to stake BNB at launch. VanEck requested that its registration take effect on May 27, and VBNB debuted on Nasdaq the following day with an annual fee of 0.39% and about $1 million in assets on its first day. Grayscale’s GBNB remains pending approval.