Is the US going to launch a BNB ETF? It seems that VanEck is serious this time!
VanEck, a well-known American investment management company, is about to launch the first Binance Coin (BNB) exchange-traded fund (ETF) in the United States!
On March 31, VanEck submitted an application to establish a trust entity in Delaware with application number 10148820, which was confirmed by public records on the official website of Delaware. If approved by the U.S. Securities and Exchange Commission (SEC), this will be the first ETF in the United States to track the price of BNB.
BNB is currently the fifth largest cryptocurrency by market capitalization. Although there are BNB-related products such as 21Shares Binance BNB ETP in the international market, there is no similar ETF in the United States. VanEck previously launched Bitcoin and Ethereum spot ETFs in January and July 2024 after obtaining SEC approval. The company later registered independent ETF fund companies for Solana and Avalanche in Delaware.
Meanwhile, the latest application did not immediately affect BNB's market performance. Currently, the cryptocurrency is trading at around $596, down nearly 1.2% in the past 24 hours. Last week, World Liberty Financial (WLFI), the financial enterprise of US President Donald Trump, announced the launch of USD1, a dollar-backed stablecoin based on the BNB chain, after which BNB rose slightly.
It is worth noting that Binance founder Changpeng Zhao (CZ) also recently announced on social media X that he plans to donate 500 BNB (Binance Coin) to Myanmar and Thailand respectively. He actively seeks whether there is a transparent on-chain donation system combined with DID to ensure the transparency and fairness of the donation process.
In addition, Zhao Changpeng clearly expressed his opposition to the destruction of tokens in the interaction, pointing out that such behavior will harm the interests of token holders because he believes that some holders will send a large number of tokens to the destruction address, thereby destroying the value of the tokens.
Do you think the SEC will approve the application for BNB ETF this time? Will the price of BNB take off on the spot after approval, just like the Bitcoin ETF? Leave a message in the comment area to discuss!
