2-4-2025 – Asset management titan VanEck has laid the groundwork for America’s first Binance Coin (BNB) Exchange-Traded Fund. The firm, which oversees an impressive portfolio valued at $115 billion, registered a trust entity in Delaware on 31st March, marking a crucial preliminary step towards seeking regulatory approval.
The Delaware filing, documented under reference 10148820, expands VanEck’s ambitious cryptocurrency portfolio, which already encompasses standalone ETF registrations for Bitcoin, Ethereum, Solana, and Avalanche. This strategic move follows the successful launch of their spot Bitcoin and Ethereum ETFs in the previous year, after receiving the green light from the Securities and Exchange Commission (SEC).
Whilst BNB-linked investment products, such as the 21Shares Binance BNB ETP, have established their presence in international markets, the American financial landscape has notably lacked a dedicated BNB exchange-traded fund. The proposed VanEck BNB ETF aims to precisely mirror the price movements of Binance Coin, which currently holds its position as the fifth-largest cryptocurrency by market value, trading steadily at approximately $598.
VanEck’s pioneering spirit in the cryptocurrency sector dates back to 2017 when they boldly ventured into Bitcoin futures ETF territory. Their latest initiative to introduce Solana (SOL) and Avalanche (AVAX) ETFs to the American market further demonstrates their commitment to broadening the spectrum of regulated cryptocurrency investment opportunities.
