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VanEck and Grayscale filed amended S-1 registrations for the first spot Binance ETFs on the same day. This is not the first Altcoin ETF. In April, Bitwise launched a spot AVAX ETF and just four days ago, they launched a spot HYPE ETF. In January, VanEck debuted on NASDAQ with an AVAX ETF. The altcoin ETF wave has accelerated in 2026. Institutions are moving towards Altcoin (BNB, AVAX, LINK, HYPE) ETFs [FILING]

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What happened

On 15 May 2026, VanEck filed Amendment No. 5 to its Form S-1 for the VanEck BNB ETF, targeted for Nasdaq under ticker VBNB. The same day, Grayscale filed Amendment No. 2 to its competing BNB ETF registration, slated to list as GBNB. [NEWS]

VanEck disclosed a 0.39% management fee; Grayscale has not yet published one.

Zooming in: VanEck would price against the MarketVector BNB Index, calculated from the top five BNB venues. Both trusts use Nasdaq Rule 5711(d) (Commodity-Based Trust Shares), the same listing standard used by HODL (VanEck Bitcoin), ETHV (VanEck Ethereum), and VSOL (VanEck Solana).

Bloomberg Intelligence ETF analyst James Seyffart flagged both filings on X. He also identified BNB as the most likely next altcoin to clear the agency’s review. [See VanEck’s post]