Investment big VanEck has registered a Binance Coin (BNB) exchange-traded fund in Delaware, marking its fifth cryptocurrency ETF registration within the state. The transfer comes as main monetary establishments proceed to wager on digital property regardless of market volatility.
BNB Joins VanEck’s Crypto ETF Lineup
According to public information on Delaware’s official state web site, VanEck registered the brand new product on Monday below submitting quantity 10148820. The “VanEck BNB ETF” was registered as a belief company service firm, following related registrations for Bitcoin, Ethereum, Solana, and Avalanche ETFs.
The New York-based firm confirmed the BNB ETF will monitor the value of Binance Coin, presently ranked because the fifth-largest cryptocurrency with a market worth of roughly $599. On-chain information confirmed BNB’s buying and selling quantity jumped 40% to over $2 billion after the announcement.
First BNB ETF Attempt In US Markets
VanEck’s submitting represents the primary try and create a Binance Coin ETF particularly for US buyers. While different BNB-related merchandise exist in world markets, such because the 21Shares Binance ETP, none are based mostly within the United States. The 21Shares product stays the one exchange-traded word monitoring the Binance Coin index.
JUST IN: VanEck Registers Entity for Potential First BNB ETF within the U.S.
VanEck has filed in Delaware to register an entity, hinting at plans for the first-ever BNB ETF within the U.S. market. The transfer marks a big step in the direction of increasing the accessibility of Binance Coin… pic.twitter.com/iFXBVu4mkD
— Crypto Town Hall (@Crypto_TownHall) April 2, 2025
The registration follows VanEck’s profitable launches of Bitcoin and Ethereum ETFs final 12 months after securing Securities and Exchange Commission approval. The firm manages almost $115 billion in consumer property globally.
Crypto ETF Race Heats Up
“VanEck seems to be taking a ‘throw everything at the wall and see what sticks’ approach, which makes sense,” mentioned Sumit Roy, senior ETF analyst at etf.com. “Avalanche isn’t the most widely traded cryptocurrency, but being first to market with an ETF in a new category comes with potential upside and little downside.”
BNB market cap presently at $85 billion. Chart: TradingView.com
The transfer comes simply weeks after VanEck utilized for SEC approval to launch the primary AVAX ETF. Based on experiences from Delaware’s state web site, that doc was registered below file quantity 10125689.
VanEck isn’t alone in pursuing different cryptocurrency ETFs. Grayscale has additionally utilized to launch funds based mostly on XRP, Solana, and Dogecoin. The agency’s Bitcoin fund presently manages almost $17 billion and ranks third amongst Bitcoin funds from firms like BlackRock and Fidelity.
Crypto ETFs Gaining Momentum
The surge in ETF functions follows the robust efficiency of spot Bitcoin and Ethereum funds in 2023. Crypto-based exchange-traded merchandise have drawn roughly $44 billion in property throughout 2024 alone.
The NASDAQ trade additionally submitted an software to the SEC on March 28 to listing shares of an Avalanche ETF issued by crypto asset supervisor Grayscale. According to submitting paperwork, Grayscale’s AVAX fund would use Coinbase Custody as its custodian.
VanEck’s newest transfer with BNB suggests main monetary establishments see rising investor urge for food for regulated cryptocurrency funding autos past simply Bitcoin. The firm filed for a Solana ETF in June 2024, making it the primary potential SOL exchange-traded fund within the US.
To achieve official approval, VanEck should now file a proper S-1 type with the SEC for these newly registered crypto ETFs.
Featured picture from Gemini Imagen, chart from TradingView
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