Grayscale Files Second Amendment for Spot BNB ETF as Token Tests $690 Resistance

According to Grayscale Investments, the asset manager filed a second amendment to its S-1 registration statement for a spot BNB exchange-traded fund with the U.S. Securities and Exchange Commission this week. The update follows the approval of spot Bitcoin and Ethereum ETFs in 2024 and signals Grayscale's continued pursuit of regulated BNB exposure.

BNB price recently traded near $687, testing the $690 neckline resistance level. A breakout above this range would place the token closer to the $700 level and strengthen a bullish double-bottom structure on the daily chart. Meanwhile, traders are watching momentum data including a Supertrend near $627 and a bullish MACD crossover.