Invest ideasNews
23 Jan 2026, 22:19
Grayscale files Form S-1 with the U.S SEC to register BNB ETF
Grayscale Investments filed a Form S-1 registration with the U.S. Securities and Exchange Commission on Friday to register its spot BNB ETF called the Grayscale BNB Trust. The initiative comes as the firm registered a trust in Delaware as a precursor to a formal SEC S-1 filing earlier in January. The filing revealed that the exchange-traded fund is designed to track the price of BNB (Binance Coin), the native token powering the BNB Smart Chain ecosystem. The initiative will enable the firm to offer the ETF only after Nasdaq, its intended listing exchange, submits a corresponding 19b-4 form and the SEC declares the filing effective. Grayscale files for Hedera, Avalanche, and Bittensor ETFs NEW: @Grayscale files for spot $BNB ETF pic.twitter.com/99JMSovGNp — James Seyffart (@JSeyff) January 23, 2026 The Form S-1 registration is also a standard requirement for firms before they can sell shares to the public. The Grayscale filing is now awaiting an SEC review for compliance with disclosure, custody, and market-integrity standards. According to the filing, the fund is subject to completion and may be revised before becoming effective. It also includes detailed information about the fund’s structure, investment strategy, risk factors, and other regulatory requirements. The filing revealed that Grayscale plans to issue shares representing fractional beneficial interests. The value of those shares is also intended to reflect BNB’s performance. The ETF follows similar crypto products proposed in the U.S., which would not actively trade or use derivatives. Grayscale’s BNB ETF comes as U.S. asset managers ramp up efforts to launch crypto ETFs after the successful launch of spot Bitcoin ETFs and spot Ethereum products in January 2024. The firm’s interest in a BNB ETF follows the digital asset’s central role in transaction fees, staking, and decentralized applications within the BNB Chain ecosystem. Grayscale’s initiative follows VanEck’s previous filing for a spot BNB ETF submitted in May, which is pending SEC approval. The BNB ETF will be Grayscale’s 10th crypto-focused ETF, with others tied to Bitcoin, Ethereum, XRP, Solana, and more. The asset manager has also filed for other digital asset ETFs, including Hedera, Avalanche, and Bittensor. At the time of publication, BNB is trading at $900, up more than 1.5% over the past 24 hours. The 4th-largest digital asset has dropped by 3.38% over the past 7 days but has gained approximately 6.2% over the past month. Grayscale plans to convert its Near trust into a spot ETF Grayscale also filed a Form S-1 registration statement with the SEC on Tuesday to convert its Grayscale Near Trust into a spot ETF. The trust currently trades on the OTCQB market under the ticker GSNR, managing around $900,000 in assets and has a net asset value of $2.19 per share. Cryptopolitan reported that the Coinbase Custody Trust Company will act as custodian for the asset manager’s NEAR holdings. At the same time, the Bank of New York Mellon will serve as administrator and transfer agent. Bitwise also previously filed a Form S-1 for a Near ETF in May last year. The investment firm also filed for 10 additional crypto ETFs last month, including funds tracking AAVE, SUI, STRK, UNI, ZEC, and ENA. Grayscale has previously converted several products into ETFs, including its Digital Large Cap Fund, Chainlink Trust, and XRP Trust. Crypto investment products recorded their strongest weekly total since October 2025, with more than $2.17 billion flowing into the funds. The inflows occurred early in the week before a change in sentiment, driven by heightened geopolitical tensions and U.S. tariff threats. On-chain data showed that Bitcoin ETFs recorded $56.6 million in inflows on Thursday, led by BlackRock’s Bitcoin ETF (IBIT) with $63 million . Crypto funds recorded $378 million in outflows over the previous days, but reversed to positive inflows following U.S. President Donald Trump’s diplomatic meeting in Davos on Wednesday. If you're reading this, you’re already ahead. Stay there with our newsletter .
23 Jan 2026, 22:11
JST Weekly Analysis: January 23, 2026 Market Structure and Strategy
JST is being tested at $0.0461 resistance while maintaining its uptrend; BTC's downtrend is creating pressure on altcoins. Weekly strategy focused on breakout long or support breakdown short – crit...
23 Jan 2026, 22:00
Years Later, Bitcoin Open Interest In BTC Still Fails To Break Past Previous Peaks
Bitcoin’s price is fluctuating below the $90,000 mark as volatility increases across the entire cryptocurrency market. During the bearish price action, attention is now being shifted to the cautious signal from the Bitcoin Open Interest in BTC terms, which has remained below past all-time high in years. Open Interest Tells A Different Story When Measured In BTC Amid the ongoing volatile action of the crypto market, the derivatives market for Bitcoin is providing a more subdued message. This message is unfolding on the Bitcoin Open Interest (OI) in BTC terms as outlined in a recent research by Joao Wedson, a market expert and founder of the Alphractal analytics platform. In the report shared on the X platform, the market expert highlighted that the open interest measured in BTC terms has failed to reach new all-time highs since 2022. The BTC-based perspective shows a more restricted usage of leverage over cycles, whereas dollar-denominated measures frequently climb in tandem with price. On Thursday, the metric experienced a bounce, but Wedson stated that the upward move was mainly in USD-dominated open interest. This pattern suggests that traders are becoming more cautious in the market by allocating capital more carefully as opposed to putting it all into risky positions . According to the expert, the trend simply suggests that speculation is present in the market and it’s currently expanding. However, the chart shows that the broader market is still far from any form of extreme or irrational euphoria. Not Enough Profit To Trigger A Bullish Recovery BTC’s inability to produce another major rally is linked to the level of investors in profit. Darkfost stated that there are still not enough investors in profit to hope for a sustainable bullish recovery. Thus, it is crucial to understand that latent profits are not harmful to a market; it is quite the opposite. When investors are most in profit, the situation is much more comfortable, which motivates them to hold. However, this only holds up to a certain point. Also, when the supply in profit surpasses 95% or even 100%, latest profits begin to impact the market and may trigger essential corrective phases. The ongoing correction remained moderate with a drawdown to around 31%, but it was able to sharply reduce the percentage of supply in profit, suggesting very late entry by many investors. Currently, over 71% of BTC is in profit after dropping as low as 64%, a very concerning level that has typically been observed only when Bitcoin was entering a bear market. However, in Darkfost’s view, the market must reclaim above 75% supply in profit to regain a more stable structure. As long as it stays above this level, the supply in profit has historically been associated with positive periods, as shown in the chart. With the recent price rebound, the supply in profit saw a brief climb back to 75% before getting rejected. Meanwhile, many BTC investors possibly used this opportunity to exit at break-even or to cut their losses.
23 Jan 2026, 22:00
Arbitrum drops 15% – Can $17M bridge inflows spark ARB’s rebound?
Arbitrum faces uncertainty after a sharp decline.
23 Jan 2026, 22:00
Record Dormant Bitcoin Supply Enters Market — What’s Next?
According to on-chain trackers, a big wave of old Bitcoin has started moving after long dormancy. Coins that sat untouched for more than two years have been transferred in numbers larger than what was seen during past peaks in 2017 and 2021. Related Reading: Bitcoin’s Sharp Reversal Leaves Over $800 Million Liquidated In 1 Day CryptoQuant analyst Kripto Mevsimi said on-chain data shows that 2024 and 2025 marked the largest release of long-held Bitcoin supply ever recorded. He tracks “revived supply,” or coins that stayed dormant for more than two years before being moved. That kind of movement usually means deep-pocketed holders are changing their plans, not small traders chasing a quick gain. A Shift Without A Party Reports say this release of long-held supply arrived with little fanfare. There was no mass retail mania. Prices did not spike in a frenzy. Instead, the transfers came during a stretch when the market has been under steady pressure from broader financial stress. Some of those older coins were likely sold for profit. Some may have been moved for other reasons — custody upgrades, private trades, or to back financial products. On-chain signals show the coins moved, but they do not write the reasons on the blockchain. Long-Term Holders Change Course Based on reports from analysts tracking these flows, the pattern suggests a changing of the guard. Early adopters who held through multiple cycles and pointed to scarcity and self-control have been trimming positions. New buyers are appearing who watch price swings and macro headlines. Institutions, fresh large accounts, and price-driven traders are now shaping much of the market’s short-term activity. Global Risk Pressures Risk Assets Reports have linked recent weakness in Bitcoin to rising global risk. Research ties part of the pullback to tariff moves by US President Donald Trump, which have pushed investors away from risky assets. Tariffs can dent corporate profits, stir up inflation uncertainty, and change how the market views future rates — all of which hits sentiment. When big markets wobble, crypto often follows. That pressure helps explain why long-held coins moved without the usual hype. New Buyers Step Forward According To on-chain and price data, institutions and new “whales” are stepping into the gaps left by sellers. Bitcoin has been trading near the high $80k range, with recent figures around $89,140 as markets test demand. The old holders may have taken gains, but the market did not collapse. That shows there is still appetite, even if it is different from the past. Related Reading: Bitcoin Influencers Get Spotlight In X’s New ‘Starterpacks’ This cycle feels different because selling came without euphoria, and buying looks more tactical. That does not mean the story is over. The market might be shifting toward price-sensitive participants and outside financial forces. Or the recent calm could be a pause before fresh buying. Either way, these on-chain moves matter. They change where the coins sit, and that changes how future price swings may play out. Featured image from Unsplash, chart from TradingView
23 Jan 2026, 21:51
Grayscale Submits Proposal To Launch Second BNB ETF In The U.S.
Grayscale has filed paperwork to add another crypto exchange-traded fund (ETF) to its lineup — this time tracking crypto exchange Binance's blockchain.
