VanEck files for BNB ETF, first in US
VanEck has requested US regulatory approval to launch an ETF that will hold BNB, the native token of Binance’s BNB Chain. The ETF aims to accumulate spot BNB tokens and may stake a portion of its assets through trusted providers. This marks the first BNB ETF filing in the US. The BNB token has a market capitalization of approximately $84 billion, with stakers earning around 2.5% yield. Binance’s BNB Chain is a leading smart contract network, boasting nearly $6 billion in total value locked. The filing follows comments from Binance co-founder Changpeng Zhao, who anticipates that Bitcoin ETF popularity will influence altcoins. Spot Bitcoin ETFs have seen over $40 billion in net inflows since January 2024. VanEck has also filed for other cryptocurrency ETFs, including those for Solana and Avalanche. The SEC has received numerous cryptocurrency ETF proposals since January 20, 2017.
