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Highlights
- VanEck submits S-1 form to the US SEC to launch the BNB ETF.
- If approved, VanEck will launch the first-ever BNB ETF in the US.
- The firm can use the trust's BNB holdings to generate staking rewards, additional BNB, or other forms of income.
Asset manager VanEck is making strides in the crypto space with its proposal to launch the first Binance Coin (BNB) ETF in the US. As part of the move, the investment giant filed the S1 form with the US Securities and Exchange Commission (SEC).
Notably, VanEck’s move reflects a growing interest in altcoin ETFs, as investors seek diversified exposure to cryptocurrencies beyond Bitcoin and Ethereum.
VanEck Submits S1 Form to Launch BNB ETF
Reportedly, VanEck is taking concrete steps toward launching a Binance Coin (BNB) ETF by submitting a crucial registration statement, the S-1 form, to the SEC. If approved, the trust’s BNB holdings can be utilized to generate staking rewards, additional BNB, or other forms of income.
This move follows VanEck’s registration in Delaware to launch a BNB exchange-traded fund in early April 2025. VanEck’s initiative is significant as it would be the first US-based ETF focused on Binance Coin (BNB). Although BNB-related products like the 21Shares Binance BNB ETP are available, they are structured as exchange-traded products (ETPs) rather than traditional ETFs and are not based in the US. In March, VanEck filed an S-1 form, seeking approval for an Avalanche ETF.
How Will Binance Coin ETF Affect BNB Price?
As of press time, BNB is valued at $593.17, down by 0.3%. The token has also experienced declines of 2.2% and 0.69% over the past week and month, respectively.
Despite this prevailing negative trend, VanEck’s BNB ETF move has sparked widespread optimism for the token’s potential price surge. This is further evidenced by the positive sentiment within the community, which is reflected by the increasing trading volume. Over the past 24 hours, the trading volume has increased by almost 15% to $1.41 billion.
Significantly, VanEck’s potential launch of the BNB ETF could positively impact the token’s price through increasing demand and better investment options. The anticipated surge in demand is expected to trigger a surge in BNB price. Moreover, the existing positive sentiment and rising trading volume may propel BNB’s price upward, potentially reversing its current negative trend.
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