VanEck Seeks SEC Approval to Launch First BNB ETF in US
VanEck has filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund (ETF) that tracks the spot price of the BNB token. This marks the first proposal for a BNB ETF in the U.S. BNB, the native token of Binance, is used for transaction discounts, interacting with decentralized applications, and payments within the Binance ecosystem. As of the filing, BNB is trading at $599, having increased nearly 2% in 24 hours. The application reflects a growing trend among asset managers seeking regulatory approval for digital asset funds in the U.S., driven by increased investor demand and recent regulatory changes. Spot Bitcoin ETFs have seen significant inflows, totaling $1.8 billion last week and a combined market capitalization of $112 billion since their approvals. In Europe, 21Shares has been managing a BNB-based investment vehicle since 2019.
