Binance’s BNB Gains Institutional Momentum as Grayscale Files for Spot ETF
In a significant development for the cryptocurrency market, Grayscale Investments has taken preliminary steps toward launching exchange-traded funds (ETFs) for BNB, the native token of the Binance ecosystem, and HYPE, the utility token of the high-performance derivatives platform Hyperliquid. The firm filed new trust registrations in Delaware, signaling growing institutional confidence in major altcoins beyond the dominant Bitcoin and Ethereum narratives. This move follows the strong market demand and regulatory success of spot Bitcoin ETFs, suggesting that established financial institutions are now looking to diversify their crypto offerings and capture value in leading blockchain ecosystems. For BNB, this represents a major milestone in its journey toward mainstream financial adoption. As the backbone of Binance—the world's largest cryptocurrency exchange by trading volume—BNB is integral to transaction fee discounts, token sales, staking, and governance across the Binance Smart Chain. An ETF would provide traditional investors with a regulated, familiar vehicle to gain exposure to BNB's price performance without directly holding the asset, potentially unlocking substantial new capital inflows. The filing also highlights the maturation of the broader altcoin market. HYPE, which facilitates high-speed derivatives trading on Hyperliquid and at one point commanded 80% of on-chain perpetual futures volume, represents the innovative frontier of decentralized finance (DeFi). Grayscale's parallel pursuit of a HYPE ETF indicates institutional recognition of specialized tokens powering high-growth niches within crypto. Analysts view these filings as a bullish signal for the sector in early 2026, reflecting a deepening institutional infrastructure for digital assets. If approved, these ETFs would further bridge traditional finance and the crypto economy, validating the utility and economic models of leading alternative cryptocurrencies. For Binance, this development could enhance BNB's liquidity, visibility, and legitimacy amid an evolving regulatory landscape, reinforcing its position as a cornerstone asset in the modern digital asset portfolio.
Grayscale Files for BNB and HYPE ETFs
Grayscale Investments has taken preliminary steps toward launching exchange-traded funds for BNB and HYPE by filing new trust registrations in Delaware. The move signals institutional confidence in altcoins beyond bitcoin and Ethereum, following strong demand for their spot crypto ETFs.
BNB serves as the backbone of Binance's sprawling ecosystem, while HYPE facilitates high-speed derivatives trading on Hyperliquid—at one point commanding 80% of on-chain futures activity. Though no SEC filings have been made yet, the Delaware registrations suggest Grayscale sees long-term value in niche crypto assets.
The filing comes amid growing Wall Street interest in crypto financial products, with solana and XRP frequently mentioned as next in line for ETF approval. Grayscale's maneuver positions it at the forefront of this institutional land grab.
Zcash Plummets 20% as Core Developer Team Resigns Amid Governance Dispute
Zcash (ZEC) suffered a dramatic intraday collapse in January 2026, shedding $1.6 billion in market capitalization within hours. The sell-off was triggered by the mass resignation of Electric Coin Company's development team following a governance clash with the Bootstrap board.
The privacy-focused cryptocurrency tumbled from $500 to $392 during the crisis, later stabilizing NEAR $421.77—a 12.45% decline. Trading volumes surged to $1.42 billion as panic selling engulfed markets, though blockchain whales seized the opportunity to acquire $26 million worth of ZEC in spot markets.
Binance Perps saw $175 million in long positions materialize during the volatility, suggesting institutional confidence in a rebound. The departing developers hinted at launching a new privacy coin project, leaving Zcash's future development roadmap in question.
