VanEck Seeks SEC Approval for US’s First BNB ETF in Delaware Filing

VanEck, a distinguished American funding administration agency, is about to launch the primary Binance Coin (BNB) exchange-traded fund (ETF) in the USA.

On March thirty first, the agency filed to determine a belief entity in Delaware beneath submitting quantity 10148820, as confirmed by public data on the state’s official website. This growth serves as a preliminary measure earlier than a proper utility is submitted to the US Securities and Trade Fee (SEC).

If accredited, the VanEck BNB ETF would turn out to be the primary US-based ETF to trace the value of Binance Coin, the fifth-largest cryptocurrency by market capitalization. Whereas BNB-related merchandise, such because the 21Shares Binance BNB ETP, can be found in worldwide markets, no related ETF exists within the US.

VanEck beforehand launched spot Bitcoin and Ether ETFs in January and July 2024, respectively, after acquiring SEC approval. It additionally registered standalone ETFs for Solana and Avalanche in Delaware.

In the meantime, the most recent submitting didn’t instantly impression BNB’s market efficiency. Actually, the cryptocurrency is buying and selling at roughly $605, with a 1.36% decline up to now 24 hours and a 4.3% drop over the previous week.

BNB witnessed modest features after President Donald Trump’s monetary enterprise, World Liberty Monetary (WLFI), announced the launch of USD1, a USD-backed stablecoin constructed on the BNB Chain, final week. It briefly surged to about $620 on March twenty fifth, adopted by one other uptrend above $640 three days later earlier than declining once more.

In associated information, Binance founder Changpeng ‘CZ’ Zhao announced that he’s donating 500 BNB to assist victims of the Myanmar and Thailand earthquake. The previous chief govt additionally sought options on the best method to distribute the BNB for aid efforts.