VanEck Goes Big on Binance Coin: Files for Groundbreaking BNB ETF

First-Ever BNB ETF in the Works

Hold onto your hats, crypto fans! VanEck, the trailblazer in crypto investment products, just dropped a bombshell. They've filed to set up a trust for the very first exchange-traded fund that'll track the price of Binance Coin (BNB), the fifth largest crypto out there. This isn't just another filing; it's a game-changer!

On March 31, VanEck made the move in Delaware, kicking off the ETF launch process. If the U.S. Securities and Exchange Commission gives it the green light, we're looking at the first-ever BNB ETF in the U.S. Sure, there are BNB-related products like the 21Shares Binance BNB ETP floating around globally, but this? This is a whole new level. The news hit the streets today, but BNB's price? It's not feeling the love yet, down 2% in the last 24 hours at $598, and over 5% in the past week. But trust me, this is just the beginning.

VanEck's Crypto Conquest Continues

VanEck's been on a roll since 2017 when they first filed for a Bitcoin futures ETF. Fast forward to January 2024, and they launched the VanEck Bitcoin Trust (HODL), their spot Bitcoin ETF. Not stopping there, they rolled out the VanEck Ethereum ETF (ETHV) later that year. And guess what? In June 2024, they filed for the first-ever Solana ETF, which is now under the SEC's microscope with a decision due in October 2025.

But wait, there's more! Just last month on March 10, VanEck filed for an Avalanche ETF in the U.S., with a decision expected by November 2025. VanEck isn't just dipping their toes in the crypto pool; they're diving in headfirst, and they're not slowing down anytime soon.