Binance Founder CZ Applauds as Grayscale Files S-1 for Spot BNB ETF

Binance founder Changpeng “CZ” Zhao praised Grayscale’s Form S-1 filing with the U.S. SEC to launch a spot BNB ETF. The asset management firm is the second to file for a Binance Coin-linked product for trading through traditional brokerage accounts, continuing the trend of institutional crypto adoption that began with spot Bitcoin ETFs.

Binance’s CZ Hails Grayscale BNB ETF Filing

Grayscale Investments has filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) on January 23 to launch a spot Binance Coin (BNB) exchange-traded fund, marking another major development in the rapidly expanding crypto ETF landscape.

The filing would allow U.S. investors to gain regulated exposure to BNB through traditional brokerage accounts, without directly holding the cryptocurrency. If approved, the fund would track the price of BNB, one of the largest digital assets by market capitalization and the native token of the Binance ecosystem.

Reacting to the news, CZ framed the move as a milestone for crypto adoption in the United States. In a post on X, he described the filing as “a small step in helping to make America the Capital of Crypto,” adding that it would give investors access to what he called the world’s third-largest cryptocurrency.

Expanding the Crypto ETF Frontier

Grayscale has played a central role in bringing crypto investment products into mainstream finance. After the approval of spot Bitcoin ETFs and the conversion of its Ethereum trust into a spot ETF, the asset manager has increasingly signaled interest in expanding its offerings beyond the two largest cryptocurrencies.

The BNB ETF filing reflects that broader strategy, as asset managers race to meet growing demand for diversified digital asset exposure. While Bitcoin and Ethereum ETFs have already attracted billions in inflows, attention is now shifting toward major altcoins with established ecosystems and deep liquidity.

A spot BNB ETF would represent a significant step for altcoin adoption in regulated U.S. markets. Exchange-traded funds provide a familiar, compliant structure for institutional and retail investors alike, removing the need for self-custody, crypto exchanges, or direct interaction with blockchain infrastructure. These features make them a preferred gateway into digital assets.

BNB’s Position in the Market

BNB is a prime candidate for institutional trading. The token plays a central role in the Binance ecosystem, where it is used to discount transaction fees, support on-chain activity, and enable participation across various blockchain applications. The token has consistently ranked among the largest cryptocurrencies by market capitalization, supported by sustained network usage.

Grayscale’s filing further positions BNB among a small but growing group of digital assets poised for ETF inclusion, reinforcing its status as a major crypto asset rather than a fringe token.

Submitting an S-1 is a procedural step and does not guarantee approval. The SEC review process can take months, and the outcome remains uncertain. Still, the filing adds momentum to the broader trend of crypto assets moving into regulated financial products.