VanEck has officially filed for a spot Binance Coin (BNB) exchange-traded fund (ETF) in Delaware, setting the stage for a significant development for BNB.
The filing, submitted on April 1, marks an essential step in launching the first BNB-specific ETF in the United States.
While products like the 21Shares Binance BNB ETP exist in global markets, no such ETF has been introduced in the US. The proposed “VanEck BNB Trust” reflects VanEck’s confidence in rising institutional interest in the fifth-largest cryptocurrency.
Creating a trust entity is a preliminary step before submitting a formal ETF application to the Securities and Exchange Commission (SEC). VanEck, a leader in crypto ETFs, successfully launched spot Bitcoin and Ethereum ETFs last year.
