Key Insights:
Grayscale's S-1 filing for a BNB ETF marks a major step towards institutional adoption of Binance Coin.
Binance Coin has shown resilience above $890, with positive momentum for future growth towards $1,000.
The approval of the BNB ETF could provide a significant catalyst for Binance Coin’s price to reach new heights.
On January 23, 2026, Grayscale made a significant move by filing an S-1 registration with the U.S. Securities and Exchange Commission (SEC) for the approval of a new exchange-traded fund (ETF) that will track Binance Coin (BNB). This development marks an important milestone in the cryptocurrency market, furthering the institutional adoption of Binance Coin and solidifying its potential role in mainstream investment portfolios.
BNB ETF to Be Managed by Grayscale
The Grayscale BNB ETF will be managed by Grayscale Investments Sponsors, LLC, a Delaware-based entity. This ETF aims to track the performance of Binance Coin, which is tied to the Binance exchange, one of the largest cryptocurrency platforms globally. Once approved by the SEC, the ETF will be traded on Nasdaq under the ticker symbol GBNB. Coinbase has been selected as the prime broker, and its custody services will secure the fund’s assets.
Grayscale is joining other prominent asset managers in seeking approval for cryptocurrency-based ETFs. The move follows a similar attempt by VanEck, making Grayscale the second firm to file for a BNB ETF. The application also includes in-kind creation and redemption features, along with staking options, providing investors with additional yield opportunities.
Binance Coin Price Outlook: Steady at $891
Despite recent market fluctuations, Binance Coin has maintained its stability above $890 as of January 24, 2026. While the cryptocurrency faced a bearish trend last week, its price has held steady, showing resistance at key levels. The market sentiment remains neutral, with the Relative Strength Index (RSI) reading 44, suggesting no immediate overbought or oversold conditions.
Source: TradingView
The Moving Average Convergence Divergence (MACD) indicator has also shifted into positive momentum, signaling a potential for price increases in the near term. However, the MACD histogram is still trailing below the signal line, indicating that a stronger bullish push is required to overcome resistance at the $900 level. Should this happen, BNB could potentially break the $1,000 mark.
Potential Risks and Support Levels
If the price drops below the $850 level, it could lead to a retest of lower support zones, possibly near the $800 range. However, with the positive momentum from the BNB ETF filing and ongoing recovery in the broader market, analysts remain optimistic about the cryptocurrency's future. Bitcoin and Ethereum are also showing signs of recovery, which could provide additional market-wide support for Binance Coin’s upward potential.
As the market watches closely, the approval of Grayscale's BNB ETF could act as a catalyst for further growth in the cryptocurrency's price. With growing institutional interest, Binance Coin could continue its upward trajectory in the coming months.
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