Key Points
- VanEck filed to establish a trust entity for a proposed BNB ETF in the US.
- This move suggests an upcoming official application for a BNB ETF with the SEC.
VanEck registered a BNB exchange-traded fund in Delaware, suggesting an upcoming official application for a BNB ETF with the US SEC.
VanEck is an American investment manager that had almost $90 billion AUM in 2024, and exceeded $15 billion AUM in Europe in February this year.
VanEck’s BNB ETF in Delaware
According to the official notes, the BNB ETF registration in Delaware is dated March 31, and the establishment of such a trust serves as a preparatory measure in the ETF launch process.
VanEck’s next move will be an official application for a BNB ETF with the US SEC.
VanEck official notes
Binance’s co-founder, CZ, also shared the announcement via X earlier today.
VanEck’s Other Crypto ETFs
VanEck launched a Bitcoin ETF, HODL, with CBOE as custodian in January 2024. According to data from SoSoValue , the next assets locked in the crypto product were $1,21 billion as of April 1, and the cumulative net inflow was over $849 million.
Last year, VanEck also launched an Ethereum ETF, ETHV, with CBOE as its custodian. As of yesterday, the net assets locked in the crypto product were almost $88 million, while the cumulative net inflows were above $135,5 million, according to the same data.
VanEck applied for a Solana ETF with the US SEC, but its application was delayed by the US regulator along with those of other ETF issuers last month. In March, reports suggested that the SEC delayed multiple crypto ETFs until May, when Donald Trump’s nominee for the new SEC Chair, Paul Atkins, is expected to take office.
Last month, VanEck officially registered an Avalanche (AVAX) ETF in Delaware, suggesting an upcoming application with the US SEC.
VanEck’s BNB ETF registration marks the company’s latest move in the ETF industry.
On March 31, BNB’s price debuted an ascendant trajectory from over $589, reaching a top above $618 on April 1. At the moment of writing this article, BNB is trading at over $599, with a market cap of over $85,4 billion.
