Binance Coin (BNB) is attracting growing interest from large financial institutions, including Standard Chartered Bank, which predicts a strong future yield, and VanEck, set to offer the first BNB ETF in the United States.
Standard Chartered Bank has predicted that BNB, the native crypto of the BNB Chain, could reach $2,775 by the end of 2028. That would be more than four times its current price, around $600.
BNB debuted in 2017 as Binance’s Initial Coin Offering (ICO) and is now the fourth-largest cryptocurrency by market capitalization (excluding stablecoins), with a value of more than $84 billion. Despite complaints about centralization, high fees, low real-world utility, and a scarcity of developers, BNB is still closely connected with Binance, the main cryptocurrency exchange.
Geoffrey Kendrick, Standard Chartered’s chief of digital asset analysis, claims that since May 2021, the price movement of BNB has been strikingly similar to that of a combination of Bitcoin and Ethereum. This kind of behavior makes it a great benchmark to observe the overall crypto market. The bank believes that the future evolution of BNB is stable and connected to the ongoing dominance of Binance.
In a major development for investors, VanEck has filed with the SEC to list the first US-domiciled spot BNB ETF. If approved, this ETF would own actual BNB tokens and give US investors regulated access to BNB price action. The ETF could also include staking, which would generate income for the fund.
This step follows the leading wave of emerging cryptocurrency ETFs. So far, there is most publicity on Bitcoin, although experts suppose triumph might get transposed across broader top-performing altcoins, including BNB.
With institutional need increasing and potentially an ETF being in the pipeline, BNB could see intense demand in the coming years. This could support Standard Chartered’s optimistic forecast of reaching a price of $2,775 by the year 2028.
Also Read: Fact Check: Is CZ Secretly Behind VanEck’s BNB ETF?
