VanEck files for US spot BNB ETF in Delaware
Investment management firm VanEck has registered a Delaware trust company for a potential exchange-traded fund (ETF) tracking Binance Coin (CRYPTO:BNB).
Filed on March 31, the registration marks the first attempt to establish a BNB ETF in the United States, signaling an expansion of Binance-linked financial products into traditional markets.
The filing, listed under entity number 10148820, establishes the trust as a corporate service company in Delaware.
This move is seen as a preparatory step before submitting an official application to the Securities and Exchange Commission (SEC).
VanEck’s initiative follows its previous successful registrations of crypto ETFs, including Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), Solana (CRYPTO:SOL), and Avalanche (CRYPTO:AVAX).
BNB, formerly known as Binance Coin, is the native cryptocurrency of the BNB Chain, a decentralised blockchain ecosystem supporting Web3 applications.
Launched in 2017 as an ERC-20 token on Ethereum, BNB ranks as the fifth-largest cryptocurrency by market capitalisation, valued at approximately $88 billion.
Its trading volume surged by 42% to over $2.12 billion following VanEck’s announcement.
While VanEck is pioneering a U.S.-based BNB ETF, similar products exist in Europe.
For instance, 21Shares launched a Binance Coin exchange-traded product (ETP) in Switzerland in 2019.
However, this European product holds only $15 million in assets under management (AUM), reflecting limited adoption compared to broader crypto markets.
VanEck’s filing comes amid increasing interest in altcoin ETFs within the U.S., with several firms recently submitting applications for XRP and Avalanche ETFs.
At the time of reporting, the Binance Coin (BNB) price was $596.55.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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