VanEck Seeks Approval for BNB ETF in the US

Asset manager VanEck has requested US regulators for the listing of an exchange-traded fund (ETF) containing BNB, the native token of Binance’s BNB Chain. The ETF aims to gather spot BNB tokens and may stake a portion of its assets through trusted providers. This marks the first BNB ETF filing by an asset manager in the US. With a market cap of around $84 billion, BNB offers stakers a yield of about 2.5%. Binance’s BNB Chain boasts a TVL of nearly $6 billion, making it a popular smart contract network. The filing follows Binance co-founder CZ's expectation of Bitcoin ETF popularity extending to altcoins. VanEck's filing is part of a wave of ETF proposals for altcoins, including Solana and Dogecoin. The SEC has received numerous cryptocurrency ETF proposals since President Trump's term, indicating a growing interest in crypto ETFs. Read more AI-generated news on: https://app.chaingpt.org/news