VanEck Files for Potential Spot BNB ETF in the US, a First for the Crypto Asset

On March 31, VanEck registered a Delaware trust company for a potential spot BNB ETF in the United States, marking the first such filing for the Binance-linked cryptocurrency. The filing, registered as VanEck BNB ETF under number 10148820, hints at expanding BNB Chain into traditional financial products. While 21Shares launched a BNB ETP in Switzerland in October 2019, with $15 million in AUM as of March 28, VanEck's move is the first in the US. BNB, launched in July 2017 and currently the fifth-largest cryptocurrency with a market cap of $88 billion, could see increased accessibility through this ETF.