VanEck and Grayscale Amend BNB ETF Applications in Spot ETF Race
VanEck and Grayscale have submitted amendments to their applications for a Bitcoin exchange-traded fund (ETF) focused on Binance Coin (BNB), according to The Block. This move marks a noticeable escalation in the competition to launch the next altcoin spot ETF, with Canary Capital also progressing on a staked TRX ETF.
On March 4, 2026, VanEck and Grayscale filed new amendments to their applications for a Binance Coin (BNB) exchange-traded fund (ETF). This action underscores an increasing urgency in the race to develop the next altcoin spot ETF, as several firms vie to leverage the growing interest in cryptocurrency investments.
Additionally, Canary Capital is advancing its own initiative by filing an amendment related to its innovative staked TRX ETF, which aims to capture investor interest with a distinct product offering centered on TRX, the native token of the TRON blockchain.
The surge of activity around various altcoin ETFs indicates a broader trend in the market, where asset managers are exploring opportunities beyond Bitcoin and Ethereum. With regulatory scrutiny still a factor in the approach to these applications, the success of these amendments could shape future product offerings in the crypto investment landscape.
As competition intensifies, industry watchers will focus on further regulatory feedback and timeline updates from the involved firms. Monitoring these developments will be crucial to understanding the evolving ETF landscape and its potential to reshape investor access to altcoins.
Summary based on original reporting by Zack Abrams at The Block, originally published May 16, 2026. SolanaWire does not republish source content.
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