The cryptocurrency market is transitioning to a new phase, where large financial institutions are beginning to take strategic steps to accumulate and extract value from digital assets. At the center of this trend is BNB – the native token of the Binance ecosystem – which is gradually transforming from a utility token into a widely recognized financial asset. Notably, the recent moves by the founder of Binance, Changpeng Zhao (CZ), and companies like Nano Labs are opening up a whole new direction for BNB in traditional investment spaces.

Recently, YZi Labs – the family office of CZ – teamed up with 10X Capital, an investment firm in the U.S., to establish a treasury company specializing in BNB. This new company aims to purchase and hold large amounts of BNB, and then list shares on major stock exchanges in the United States, facilitating traditional investors' legal and easy access to BNB without having to use cryptocurrency exchanges directly.

This strategy is similar to the approach MicroStrategy took with Bitcoin – holding large volumes and providing shares backed by digital assets. This time, the model is extended to exchange tokens – something unprecedented for BNB.

Leadership and Long-term Goals

This BNB treasury company will be managed by David Namdar, co-founder of Galaxy Digital – a major name in the digital asset investment community. 10X Capital will play the role of asset management. They expect that offering publicly traded shares backed by BNB will break down the legal and infrastructure barriers that U.S. investors face when trying to access this token.

CZ Remains the 'King' of BNB

Although he resigned from Binance following an agreement with U.S. authorities, CZ remains the largest shareholder of this exchange and is the world's largest holder of BNB. According to a report from Forbes in June 2024, CZ currently holds about 94 million BNB – equivalent to 64% of the circulating supply, with an estimated value of around 63 billion USD. Binance also controls an additional 31.5% of the supply. CZ has disclosed that 98.5% of his cryptocurrency portfolio is held in BNB, showing a strong belief in the future of this token.

Nano Labs Bets Big on BNB

Not only YZi Labs, but Nano Labs – a company listed on Nasdaq – has also announced the purchase of 74,000 BNB worth a total of 50 million USD (equivalent to ~672 USD per BNB). The company stated that it aims to accumulate up to 1 billion USD in BNB, or about 10% of the total supply of this token.

This is a strategic turning point as Nano Labs is looking to transform its business model from chip manufacturing to digital asset investment, amid challenges in traditional operations. Following this announcement, Nano Labs' stock doubled, while BNB also recorded a 2.7% increase.

Current BNB Market Picture

Currently, BNB is trading around 670 USD, up slightly 1.3% on the day. Although it still serves as the utility token of the Binance exchange, BNB is gradually reshaping its position as a long-term investment asset backed by major financial institutions.

Implications for Investors

Strategic moves from YZi Labs, 10X Capital, and Nano Labs show that the wave of institutional investment in BNB is beginning to accelerate. The establishment of a treasury company, the publicly traded share model, and plans to purchase billions of USD in BNB all aim to create more legally compliant and accessible financial products for traditional investors.

CZ stated that there are currently more than 30 other groups also developing similar public companies focused on BNB, while names like Trident Digital and Webus are actively accumulating BNB. This transformation will help BNB expand beyond the Binance ecosystem, entering mainstream finance and approaching the role of a strategic asset like gold or Bitcoin.

Conclusion

BNB is at a significant turning point, where institutional capital is not only a price support factor but also a driver of change in the very nature of this asset. In an increasingly clearer legal context and with rising demand for digital asset ownership, BNB is on the journey to becoming a cornerstone in the portfolios of global institutional investors.