Grayscale has submitted a third amendment to its S-1 registration statement for a proposed spot BNB exchange-traded fund, disclosing the Nasdaq ticker GBNB as the U.S. Securities and Exchange Commission continues its review. The updated filing removes language about a potential BNB contribution arrangement that had appeared in earlier versions, while confirming BitGo as the custodian responsible for safeguarding the ETF’s holdings and The Bank of New York Mellon as the administrator and transfer agent.
Bloomberg ETF analyst James Seyffart noted the ticker update on June 3, but pointed out that the registration still lacks a management fee, any staking intentions, or fee waiver details. The filing designates Grayscale Investments Sponsors LLC as the sponsor, with shares of the trust designed to track the value of BNB held directly.
The amended filing arrives amid a broader push for crypto ETFs beyond Bitcoin and Ethereum. While VanEck recently launched a spot BNB ETF under the ticker VBNB, Grayscale’s proposal remains under SEC consideration. The removal of the contribution arrangement suggests ongoing discussions between the issuer and regulators, though neither party has commented on the change.
On the price front, BNB traded near $636 on June 3, down over 2% after failing to hold a breakout above a descending trendline from January. The token slipped back below the 23.6% Fibonacci retracement level at roughly $662, with sellers defending $720. The MACD produced a bearish crossover, and momentum indicators signaled a cooling rally, though the broader trend remains intact. Key support sits in the $620–$600 zone, with $570 as a critical floor to prevent a deeper correction.
