BNB Price Tests $606 After Grayscale Makes It Top Fund Holding

Key Insights BNB price holds near $592 after Grayscale assigned BNB a leading 30.6% fund weight. Ether and Solana follow at 29.47% and 29.15%, while smaller holdings fell sharply. Grayscale reduced UNI and NEAR exposure, although both retained the largest fund weights. The BNB price traded near $592 on Thursday after Grayscale made the token its largest Smart Contract Fund holding. The asset secured a 30.6% portfolio weight following the second-quarter review. Ether followed at 29.47%, while Solana accounted for 29.15%. The change gave BNB a narrow lead over both rival assets. However, the market response stayed restrained. BNB traded lower during the session and remained below the $606 resistance area. The development strengthened BNB’s institutional profile without producing an immediate price breakout. The published allocations reflect end-of-day values recorded on August 3, Grayscale said. BNB Tops in Grayscale Fund | Source: X BNB Price Gains Institutional Focus After Fund Rebalance Grayscale added BNB by selling existing Smart Contract Fund components according to their previous weights. It then used the proceeds to purchase the new holding. The process followed the CoinDesk Smart Contract Platform Select Capped Index methodology. BNB entered at 30.6%, immediately becoming the fund’s largest component. Ether and Solana stayed close to their earlier allocations. However, the smaller holdings recorded much larger reductions after the addition. Cardano’s weight fell to 4.88% from 17.96% during the first-quarter review. Hedera dropped to 2.08%, while Avalanche moved to 1.92%. Sui accounted for 1.9% of the updated portfolio. The shift reflects index rules rather than a direct market forecast from Grayscale. Component weights can change daily as token prices move. The formal basket also receives a quarterly review. The Smart Contract Fund remains separate from Grayscale’s proposed spot BNB exchange-traded product. For BNB price, the addition raises visibility among investors tracking diversified crypto products. BNB Price Holds Near Support as Sellers Defend $606 BNB price traded around $592 after failing to clear its 100-day simple moving average near $606. The rejection brought fresh selling pressure despite the Grayscale announcement. Trading activity was not sufficient to make a strong move above resistance. The token continues to trade above important moving averages on the shorter time frames, helping to back up the recovering price action. However, a lack of success around $606 could keep BNB stuck in a range of limited dimensions. Buyers need a firm close above that level to improve momentum. BNB Price Chart | Source: TradingView A confirmed breakout could expose the $610 to $612 region. On the other hand, losing $592 would weaken the recent breakout structure. The next support area sits between $581 and $582, according to technical indicators from TradingView data. Bitcoin and BNB were slightly up and down, respectively, during the same time.