On May 6, 2025, VanEck – an asset management company with over $110 billion – submitted an application for approval of the BNB spot ETF in the US, marking the first time such a fund has been proposed. Could this be the turning point for Binance Coin (BNB) to get listed on the US stock exchange? Let’s analyze in detail.
VanEck and the First BNB ETF Proposal in the US
VanEck, one of the leading investment management companies, filed an S-1 application with the US Securities and Exchange Commission (SEC) on May 2 to launch an ETF tracking the spot price of BNB – the native token of Binance, the world's largest cryptocurrency exchange by daily trading volume (according to CoinGecko). This is the first time an investment company has proposed a #BNBETF in the US, allowing investors to access BNB without needing to directly hold the asset. BNB is currently trading at $599, up nearly 2% in the past 24 hours, and is used to reduce transaction fees, interact with decentralized applications, and make payments within the Binance ecosystem.
Crypto ETF Trends: Momentum from the Market
The proposal from #VanEck comes in the context of increasing interest in cryptocurrency ETFs in the US, thanks to a relaxed regulatory environment and rising investor demand. After President Donald Trump was elected last year – with his family having strong financial ties to the digital asset industry – a series of companies have applied for ETFs for various cryptocurrencies, from Solana, Dogecoin, BONK, Official Trump, to even NFTs. The Spot Bitcoin ETF attracted $1.8 billion in inflows last week, reaching a market capitalization of $112 billion, while the Ethereum ETF also recorded steady inflows (according to CoinGlass). VanEck, which has succeeded with Bitcoin and Ethereum ETFs, continues to lead this trend.
BNB ETF: Opportunities and Challenges
If approved, VanEck's BNB ETF will be the first fund in the US tracking the price of $BNB , joining the list of international products like the 21Shares Binance BNB ETP (available in Europe since 2019). This not only increases legitimacy for BNB but also expands opportunities for institutional and individual investors, driving capital into the altcoin market. However, the SEC has yet to respond, and with over 70 altcoin ETF applications pending review, the decision may be delayed until the end of 2025.
Impact on the Crypto Market
VanEck's move brings positive signals:
Increasing legitimacy: The BNB ETF could bring altcoins closer to traditional finance, similar to Bitcoin ($94,800, poised to reach $120,000).
Boosting altcoins: The success of the BNB ETF will pave the way for other funds, such as XRP (upcoming 2X leverage ETF) and Solana.
Supporting the ecosystem: With trading volume increasing by 47% after the news (according to CoinGecko), BNB and the Binance ecosystem could benefit greatly, boosting DeFi and blockchain applications.
Conclusion: Will BNB ETF Change the Game?
VanEck paves the way for the first BNB ETF in the US, marking a significant step in integrating altcoins into traditional finance. Although the SEC has not yet approved it, this move reinforces confidence in the potential of BNB ($599) and the crypto market, promising a vibrant future for investors in the next 3-5 years.
Risk warning: Investing in crypto carries high risks due to price volatility and legal uncertainties. Please consider carefully before participating. #anhbacong
