Grayscale Investments, a leading crypto asset manager, has taken a significant step towards launching exchange-traded funds (ETFs) for Binance Coin (BNB) and the HYPE token. The firm filed to create new statutory trusts in the state of Delaware, registering entities 10465871 and 10465863 with the CSC Delaware Trust Company. This preliminary move, dated January 8, 2026, is a necessary administrative step that precedes a formal application to the U.S. Securities and Exchange Commission (SEC).
The filing for a spot BNB ETF marks Grayscale as the second major asset manager to pursue such a product, following a similar effort by VanEck. BNB is the native token of the Binance ecosystem and is the fifth-largest cryptocurrency by market capitalization. The HYPE token powers the Hyperliquid platform, a high-speed decentralized exchange for futures trading that has captured up to 80% of on-chain derivatives activity at its peak.
This development follows the massive investor inflows into spot Bitcoin and Ethereum ETFs and underscores Grayscale's expanding confidence in the altcoin sector. The firm has been actively building a suite of crypto ETFs, with products for Solana (GSOL), Chainlink (GLNK), and XRP (GXRP) already trading. In November 2025, Grayscale also filed to convert its ZCash Trust into an ETF.
Market analysts have reacted positively to the news, particularly regarding BNB's price prospects. Following the announcement, BNB price showed a healthy uptick of 1.79%, though it faced resistance below the $900 level. Popular analyst Crypto Rand noted that BNB printed a double-bottom pattern above $850 and is now testing key horizontal resistance, with a potential breakout targeting the $1,000 range.
Other analysts, like Crypto Patel, have set even more aggressive long-term targets. Patel suggests that BNB, having turned its previous all-time high into support, could rally to $3,000 in the next bull phase, with a macro-cycle target between $10,000 and $20,000 if bullish momentum persists. However, he cautioned that a dip below $800 could see the price fall into a long-term accumulation zone between $500 and $800.
