VanEck Files for First US BNB ETF, Managing $115 Billion in Assets, Targets Fifth-Largest Crypto

VanEck, a leading investment firm managing nearly $115 billion in assets, has filed to establish a trust for a proposed Binance Coin (BNB) exchange-traded fund (ETF) in Delaware. This filing, registered on March 31 under the name 'VanEck BNB ETF', marks the first attempt to launch a BNB ETF specifically in the US market.

The proposed BNB ETF, if approved, would be the first of its kind in the US, providing institutional investors with direct exposure to Binance Coin, which is currently priced at $603 and is the fifth-largest cryptocurrency by market capitalization. VanEck's move follows the successful launch of Bitcoin and Ethereum ETFs earlier in the year.

The filing for the BNB ETF is a preliminary step before a formal application to the US Securities and Exchange Commission (SEC). VanEck has previously registered ETFs tracking Bitcoin, Ethereum, Solana, and Avalanche in Delaware, making the BNB ETF the fifth cryptocurrency ETF in their portfolio.

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