Grayscale has revealed the ticker symbol for its proposed spot BNB exchange-traded fund after submitting another amended registration statement to the U.S. Securities and Exchange Commission.
Summary
- Grayscale has filed a third amended S-1 for its proposed BNB ETF, revealing the Nasdaq ticker GBNB as the SEC’s review of the application continues.
- The updated filing removes an earlier BNB contribution arrangement and confirms BitGo as custodian and BNY Mellon as administrator and transfer agent.
- BNB traded near $636 after losing the $662 Fibonacci support level, while technical indicators point to weakening short-term momentum following a recent rally.
According to a filing submitted to the SEC, Grayscale filed a third amendment to the S-1 registration statement for its proposed BNB ETF as the regulator continues reviewing the application. The latest filing identifies GBNB as the ticker that would be used if the fund receives approval and lists on Nasdaq.
Bloomberg ETF analyst James Seyffart highlighted the ticker update in a June 3 X post, noting that several key details remain absent from the registration statement. The filing does not disclose a management fee, whether the trust intends to stake its holdings, or any fee waiver arrangements.
Grayscale’s proposed product would hold BNB directly, with the trust’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.
The filing also arrives as Grayscale prepares to launch its Hyperliquid ETF. In a separate X post, Seyffart noted that the fund is set to trade under the ticker HYPG with a 0.29% management fee, although trading had not yet begun at the time of his update.
The latest filing removes an earlier contribution structure
Among the notable changes, the amended filing removes a section titled “Potential Contribution Arrangement” that appeared in previous versions of the registration statement.
Earlier filings described a structure under which the sponsor was discussing a potential arrangement with an investor to acquire shares through an authorized participant in exchange for BNB. The updated filing no longer includes that language.
While Grayscale did not explain the removal, the amendment comes during the SEC’s ongoing review process. Any interpretation regarding the reason for the change remains speculative, and neither the company nor the regulator has publicly commented on the revision.
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 safeguarding the ETF’s BNB holdings.
Grayscale joins a growing race for crypto ETF approvals
Interest in crypto-backed investment products continues to expand as asset managers seek regulatory approval for funds tied to digital assets beyond Bitcoin and Ethereum.
Within that landscape, Grayscale’s proposed BNB ETF remains under SEC review, with the latest amendment indicating that discussions between the issuer and regulators are still progressing. Registration statement amendments are commonly submitted as issuers respond to regulatory comments and requests for additional information.
Recent activity in the sector has extended beyond Grayscale. As crypto.news reported earlier, VanEck launched a spot BNB ETF in the U.S. last week under the ticker VBNB, adding another BNB-focused investment vehicle to the market.
For now, investors are watching for 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 faces resistance after recent rebound
On the daily chart, BNB (BNB) price traded near $636 on June 3, down more than 2% on the day after failing to hold a breakout above a descending trendline that has capped rallies since January.
The daily chart shows BNB falling back below the 23.6% Fibonacci retracement level at roughly $662 after briefly testing the area earlier this week. Sellers also defended the region near $720, which coincides with the 38.2% Fibonacci level and acted as resistance during the latest advance.
Momentum indicators suggest that the rally has entered a cooling phase. The MACD has produced a bearish crossover, with the histogram turning negative after last week’s surge. At the same time, the Aroon Up indicator remains above 70 while Aroon Down sits near 57, signaling that the broader trend has not completely weakened despite the recent pullback.
Hence, if buyers manage to reclaim the $662 level, the next resistance zones appear near $719 and $765.
On the downside, immediate support is located around the $620-$600 region, while the larger range floor near $570 remains the key level that bulls need to defend to prevent a deeper correction.
