VanEck is making its move toward a Binance Coin (BNB) ETF in the U.S. The firm just registered a trust entity in Delaware for the VanEck BNB ETF—an essential first step before it officially takes things to the SEC.
This filing, made on March 31 under filing number 10148820, positions BNB alongside Bitcoin, Ether, Solana, and Avalanche, the cryptocurrencies for which VanEck has initiated standalone ETF registrations in Delaware. BNB-related products like the 21Shares Binance BNB ETP have been available in global markets, but a U.S.-based BNB ETF has yet to exist—until now.
VanEck, a leading name in the crypto ETF space with nearly $115 billion in assets under management, has been steadily growing its lineup. After securing SEC approval, the firm launched spot Bitcoin and Ethereum ETFs last year. More recently, it filed for the first-ever Solana (SOL) and Avalanche (AVAX) ETFs in the US.
If approved, the VanEck BNB ETF would directly track the Binance Coin’s price. Currently, BNB ranks as the fifth-largest cryptocurrency by market capitalization and was trading around $598 at press time, with little fluctuation in the past 24 hours, according to CoinMarketCap.
VanEck has been shaking up the crypto ETF game since its bold Bitcoin futures ETF filing in 2017. Now, it’s back at it, taking another big swing at expanding regulated crypto investment options in the U.S.
Also Read: VanEck’s Solana ETF Registered in Delaware; SOL Price Drops Below $120
