In the world of cryptocurrency, every time an elephant dances, it heralds the coming of a storm.
On January 23, 2026, Grayscale, the world's largest cryptocurrency asset management company, officially submitted an application for a spot BNB ETF (S-1 form) to the U.S. Securities and Exchange Commission (SEC). This move instantly ignited the community.
If you are a novice in the crypto space, you might still be asking, 'What is an ETF? What does this have to do with me?' But if you understand the logic behind it, you will realize: this is not just an application for a product; it is a power struggle about 'who will be the next ruler.'
1. Grayscale takes action: Why BNB?
In the crypto circle, Grayscale is like the “wind vane of institutions.” It has single-handedly promoted the institutionalization of Bitcoin and Ethereum. And now, it has set its sights on BNB.
Why BNB?
Noble lineage: BNB is not only Binance's ecological token but also the fourth largest cryptocurrency in the world. In 2025, BNB outperformed 99% of tokens, a stability that institutions value most.
King of deflation: BNB has a unique quarterly burn mechanism, meaning its total supply is continuously decreasing. In economics, reduced supply + increased demand = price rise.
Practical ceiling: From trading fee discounts to Launchpool new projects, BNB is almost involved in all application scenarios of Web3.
2. Case Review: What happened after the ETF approval from BTC to ETH?
Novices must see this case. At the beginning of 2024, the Bitcoin spot ETF was approved, and Bitcoin soared, breaking historical highs. Why?
Because ETFs are like a “cross-sea bridge.”
In the past: Traditional large funds (pension funds, Wall Street investment banks) wanted to buy coins, they had to open exchange accounts and remember mnemonic phrases, which was troublesome and dangerous.
Now: They only need to buy “GBNB” (the reserved code for Grayscale's BNB ETF) in the U.S. stock market like buying stocks, which is compliant and safe.
Conclusion: As long as the door to ETFs opens, trillions of “old money” from outside will flood into BNB like a deluge. This liquidity surge is incomparable to retail trading.
3. Market Direction: 2026, from “Altcoin Craze” to “Blue-chip Transformation”
Grayscale mentioned in the 2026 (Digital Asset Outlook) that this year will be **“the dawn of the institutional era”**.
The future market trend will present two extremes:
Compliant blue chips lead the trend: Tokens like BNB, SOL, and XRP, which have ETF expectations and actual use cases, will gradually move away from the category of altcoins and become true “digital commodities.”
Air tokens accelerate to zero: With clear regulations, projects that have no landing scenarios and rely solely on market sentiment will find it hard to turn around.
4. Professional in-depth analysis: Can the BNB ETF pass?
Currently, besides Grayscale, VanEck is also queuing up to apply for the BNB ETF. Although the SEC still disputes whether BNB is a “security,” the progress of bipartisan cryptocurrency legislation in the U.S. in 2026 greatly increases the probability of approval.
Core Logic: If Ethereum can pass, if Solana can pass, then BNB, supported by a huge ecosystem, is just a matter of time. Smart people are betting on “expectations,” while novices always buy after “good news lands.”
5. Entry Guide: How should novices respond?
In the face of this huge influx of traffic and potential market trends, as a novice, you need to master the following mindset:
Don't go all in; instead, invest steadily: The ETF approval is a long race, and there will be countless SEC delays and rejections in between. Buy in batches to lower costs.
Pay attention to “good news premiums”: Every time Grayscale makes a new move, the market will react in advance. Learn to track the progress of the S-1 filing.
Hold onto blue chips, stay away from junk: Since institutions are buying BNB, following the footsteps of giants gives you a better chance than betting on obscure coins.
Conclusion
Grayscale's submission of the BNB ETF application marks the official challenge of the Binance ecosystem to the highest halls of traditional finance. This is not just about the rise and fall of a coin, but a milestone for blockchain technology being fully accepted by mainstream society.
Are you ready to catch this wave of dividends?
I will continue to track the latest approval progress of Grayscale's BNB ETF. Do you want to know how to participate in Binance's latest new project profits through BNB? Or do you want to see my in-depth comparative analysis of the ETF applications for SOL, XRP, and others? Feel free to discuss in the comments!
