VanEck Submits Application For A Spot BNB ETF: Will The Binance-Related Digital currency Outpace XRP To Emerge As The Next ETF?
The prominent investment firm VanEck has submitted a request to set up a Delaware trust company designed for an exchange-traded fund (ETF) that will track the BNB digital asset linked to Binance.
On March 31, VanEck established a new entity called ‘VanEck BNB ETF’ in Delaware, as revealed by public records available on the official Delaware state website.
BNB ETF registration by VanEckhttps://t.co/4GuXMDkzCc
— CZ
BNB (@cz_binance) April 2, 2025
A BNB ETF Might Offer Positive News To Stop Its 5% Decline This Past Week.
As indicated by the Delaware state website, filing 10148820 reveals that VanEck established the entity as a trust corporate service company in Delaware, suggesting a possible spot BNB ETF in the United States.
VanEck represents the first firm to suggest a potential spot BNB ETF in the US, which may indicate an increase in the BNB Chain, formerly recognized as Binance Chain, into conventional financial products in the marketplace.
Binance may benefit from favorable announcement as the trading network has been having difficulty maintaining its position amid the EU’s MiCA regulations, which led to the removal of major crypto trading pairs for EU nations.
In a similar vein, the BNB crypto token, which is frequently linked to Binance, has fallen approximately 5% over the past week, with investors hoping that the announcement of the VanEck Spot ETF filing will change the trajectory for the fifth-ranked digital asset.
According to CoinGecko, BNB holds the position of the fifth largest digital currency by market capitalization at $87.7 billion, trailing behind Ripple (XRP) in fourth place, which boasts a value of over $123 billion.
Should BNB secure a spot ETF listing in the US prior to XRP, it might surge ahead of Ripple’s blockchain-native coin.
BNB ETP Already Available in Europe
While VanEck is the pioneer in pursuing a potential BNB ETF in the United States, similar offerings have been traded in Europe for a number of years.
One of Europe’s prominent crypto asset management firms, 21Shares, introduced a BNB exchange-traded product (ETP) in Switzerland back in October 2019.
TradingView statistics indicate that the 21Shares BNB ETP manages only $15 million in assets under management (AUM), representing a 0.3% share of Switzerland’s total crypto AUM of $5.3 billion as of March 28, according to CoinShares.
The product reportedly experienced a significant decrease in fund flows over the past year, amounting to 537 million euros, or approximately $580 million.
VanEck Engaging in a Flurry of ETF Filings
$1.5T AUM Franklin Templeton considers launching XRP and Crypto ETPs in Europe as part of its new investment portfolio.
Franklin Templeton has also submitted 2 XRP ETFs to the US SEC & CBOE.#XRP #RLUSD #XRPETF
— Kenny Nguyen (@mrnguyen007) April 2, 2025
VanEck’s BNB ETF trust registration is only one of numerous recent US alternative coin ETF filings and registrations following Donald Trump’s inauguration as president in January.
Earlier in March, VanEck similarly registered a Delaware trust for an ETF that tracks the Avalanche (AVAX) price, thereby becoming one of the first companies to register such a trust.
Interestingly, they are not included in the roster of 9 firms that recently applied for a Ripple (XRP) ETF. Several ETF issuers have positioned their applications for an XRP ETF with the Securities and Exchange Commission (SEC).
These include some of the largest asset managers in the US, such as Grayscale, CoinShares, 21shares, Bitwise, Canary Capital, ProShares, Franklin Templeton, and Price swings Shares.
DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now
Join The 99Bitcoins News Discord Here For The Latest Trading market Updates
Investment firm VanEck files for a US-based Spot BNB ETF
- BNB has dropped 5% in the week, and announcement about a prospective ETF might serve as a suitable trigger for a rebound
- A BNB ETP product from 21Shares is already operational in Europe
- 9 investment firms have recently applied for an XRP ETF, while VanEck is the first to submit for a BNB ETF
The article VanEck Files For A Spot BNB ETF: Can The Binance-Linked Crypto Beat XRP To Become The Next ETF? was first published on 99Bitcoins.
