BNB Token Sees Price Increase Following VanEck's Spot ETF Filing
BNB's price surged after VanEck, a global asset management firm, filed an application for a spot Exchange-Traded Fund (ETF) with the Securities and Exchange Commission (SEC). According to former Binance CEO Changpeng Zhao (CZ), VanEck has officially submitted the filing.
*Key Highlights:*
- *Price Increase*: BNB's price rose over 1% in the last 24 hours, reaching around $598.
- *Trading Volume*: BNB's trading volume jumped 8.8% to $1.46 billion.
- *Market Comparison*: Meanwhile, Bitcoin (BTC) and Ethereum (ETH) saw declines of 0.2% and 0.5%, respectively.
*Significance of the Filing:*
If approved, this ETF would be the first in the US to track the price of BNB Chain's native token, marking a significant milestone. VanEck's filing includes plans for staking, which could generate additional revenue for investors. The SEC has yet to approve the filing, but this move demonstrates growing interest in crypto-based ETFs ¹ ².
