#MarketPullback VanEck was the first to lay the groundwork for a BNB exchange-traded fund just over a month ago, where it registered relevant legal confidence in Delaware. This is a standard practice for new cryptocurrency exchange-traded funds; VanEck did the same in March for its attempt at an AVAX exchange-traded fund.

Currently, it is difficult to assess the likelihood of approval, but BNB is one of the largest digital assets. This may give it an edge.

Binance is even considering a U.S.-based exchange-traded fund, showing how far BNB has progressed recently. In 2023, U.S. exchanges began re-evaluating BNB listings due to Binance's legal troubles.

However, major exchanges like Kraken have started listing it again. BNB has some positive momentum; its price was already rising today a few hours before this announcement.

ETF analyst Eric Balchunas noted that CZ and Jan van Eck recently attended the Token2049 conference, although they did not appear in the same session. While CZ is known for making deals at industry conferences, there is no evidence that he and van Eck met directly. However, Balchunas said that some of CZ's comments may reflect his positions regarding the BNB ETF:

"This cycle has been about ETFs so far. They are almost all Bitcoin. Ethereum hasn't achieved the same success, but Bitcoin's success will eventually spill over to others. It takes time, though. I think we are just beginning."