VanEck Files for First BNB ETF

VanEck Files for First US Binance Coin (BNB) ETF

American investment firm VanEck has submitted a registration statement to the US Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) tracking Binance Coin (BNB). This marks a significant step towards increased accessibility for US investors seeking exposure to BNB.

Key Highlights:

• VanEck's filing represents the first US ETF seeking to track BNB, Binance's native token.
• The ETF aims to directly reflect BNB's price performance, pending SEC approval.
• The potential inclusion of a staking feature could provide investors with additional BNB rewards.

Filed on May 2nd under Form S-1, the VanEck BNB ETF will offer exposure to BNB through direct token holdings if approved. The proposed ticker symbol remains undisclosed. The ETF's prospectus suggests a staking feature, allowing investors to earn passive income through BNB rewards. This staking would be facilitated by vetted providers, possibly including VanEck affiliates, subject to regulatory and exchange approvals.

This filing follows VanEck's registration of a trust entity in Delaware last month, further solidifying their commitment to offering the first US BNB ETF. This development adds to VanEck's growing portfolio of crypto investment products. BNB joins Bitcoin, Ether, Solana, and Avalanche as crypto assets with standalone SEC registrations initiated by VanEck.

VanEck's pioneering role in the digital asset ETF space is well-established. The firm successfully launched spot Bitcoin and Ethereum ETFs last year following SEC approval and was among the first to propose a Bitcoin futures-based ETF in 2017.

BNB, currently the fifth-largest cryptocurrency by market capitalization, is trading near $608 (data from CoinMarketCap). It plays a crucial role within the Binance ecosystem, powering transactions and smart contracts on the BNB Chain.

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