VanEck is applying for the first-ever ETF on Binance Coin (BNB). The very coin that was born in the depths of the exchange.
And this is not some crypto startup. This is VanEck — a company with assets under management of about $80 billion.
Well, first of all, let's start with the fact that an ETF is the adult table in the crypto world. When Bitcoin got its ETF, it jumped like a schoolboy after the last bell. Then Ethereum came along, and now BNB is like, 'Am I any worse?'
But here's the catch:
BNB is not just crypto. It is the 'exchange currency' of Binance, used for fees, participating in IEOs, staking, and basically everything.
At the time of writing:
• The market capitalization of BNB is around $90 billion.
• It is the fourth-largest cryptocurrency after BTC, ETH, and stablecoins.
• The coin operates within its own BNB Chain ecosystem, serving over 1.6 million active addresses monthly.
And yes, the SEC is still trying to figure out whether this is crypto, a security, or another Elon Musk plan to take over Venus. But the fact remains — the application has been submitted. S-1. Seriously. In the U.S. And not by just anyone, but by VanEck.
Why might the SEC be scratching their heads?
Now, this is interesting. Binance is still under scrutiny from the SEC for alleged violations of securities laws. And yes, Gary Gensler apparently isn't a fan of CZ. But it seems Wall Street is starting to get tired of this 'regulatory paranoia.' Business wants to trade. Business sees interest. Business knows where the money is.
What does this mean?
If the ETF is approved, it will lead to:
• The influx of institutional money into BNB.
• Increasing liquidity and recognition of the asset.
• Possibly leading to BNB becoming a new Ethereum alternative in the fund market.
And yes, this might raise the price of BNB. It is currently hovering around $590. An ETF could easily push it into the $800–1000 range if the BTC story repeats.
