Dubai, UAE: Global asset manager VanEck has signaled its intent to launch a Binance Coin (BNB) Exchange Traded Fund (ETF) in the United States, filing for a BNB Trust in Delaware on Tuesday. This move marks the first known attempt to bring a dedicated BNB ETF to the US market, potentially opening up new investment avenues for the fifth-largest cryptocurrency by market capitalization.
According to public records from the Delaware state website, VanEck registered the new product, named the VanEck BNB ETF, on March 31st under filing number 10148820. This registration positions BNB alongside Bitcoin, Ether, Solana, and Avalanche as cryptocurrencies for which VanEck has initiated standalone ETF registrations in Delaware. While BNB-related investment products exist outside the US, such as the 21Shares Binance BNB ETP, a US-based ETF has remained elusive until now.
VanEck, which manages approximately $115 billion in client assets globally, has been actively expanding its presence in the cryptocurrency ETF space. The firm successfully launched spot Bitcoin and Ether ETFs last year following SEC approval. More recently, VanEck also filed for the first-ever Solana (SOL) and Avalanche (AVAX) ETFs in the US market, demonstrating its commitment to offering a diverse range of crypto investment products.
The potential BNB ETF would track the price of Binance Coin, which was trading around $608 at the time of reporting. News of VanEck’s filing appears to have already impacted the market, with BNB’s trading volume surging by 42% to over $2.12 billion. Analysts are now closely monitoring BNB’s price action, speculating on a potential rally towards its all-time highs.
VanEck has established itself as a significant player in the crypto ETF landscape, notably being the first to file for a futures Bitcoin ETF in 2017. This latest move to pursue a BNB ETF underscores the growing institutional interest in the cryptocurrency market and the increasing demand for regulated investment products tied to digital assets.
