Spot BNB ETF Submitted Shortly After Binance Founder Conferred with VanEck CEO: BNB to Reach $1,000?
VanEck has submitted an application for a spot BNB ETF, just days after its CEO’s meeting with Changpeng Zhao, the Binance founder. While there are regulatory hurdles to overcome, optimism remains strong. With BNBUSDT prices holding steady, could the token rise to $1,000?
BNB has lagged behind other top five cryptocurrencies by missing out on significant trends. From meme coins to NFTs and tokenization, the BNB Chain has fallen behind Polygon, ETH, and Solana. It benefits from Pump. fun, a launchpad responsible for some of the best Solana meme coins.
This could be attributed to regulatory issues and the reputational harm inflicted by Gary Gensler and U.S. agencies that have intensified scrutiny on Binance, alleging the trading network violated securities regulations. Changpeng Zhao was compelled to resign and sentenced to four months in a correctional facility. Additionally, Binance incurred over $4 billion in penalties to resolve the matter.
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VanEck Submits Application for the First Spot BNB ETF in the U.S.
Just four months after Donald Trump claimed his second term, Binance finds itself back in the limelight.
On May 5, 2025, VanEck, a digital asset management firm, filed for the inaugural spot BNB ETF with the U.S. SEC, the same organization that sanctioned its CEO.
The effect was immediate: BNB rebounded from its May 4 losses, surpassing both BTC and Ethereum in performance over the subsequent 24 hours.
(BNBUSDT)
Crucially for traders, it seems ready to reinforce its status above $600.
Reports indicate that VanEck, which already offers U.S. spot BTC and ETH ETFs, has submitted an S-1 form to the SEC.
VanEck just filed for a spot BNB ETF pic.twitter.com/yOanuNMyjp
— Eric Balchunas (@EricBalchunas) May 5, 2025
This essential regulatory document details the ETF’s framework.
Should it receive approval, the spot BNB ETF would be available to institutional investors in the U.S. The product was registered in Delaware on March 31, 2025.
There are currently no specifics regarding whether locking tokens will be part of the offering, allowing VanEck to stake the underlying asset and generate yield. This feature is notably missing from the existing U.S. spot ETH ETF, which may account for its underwhelming performance.
Unless the SEC allows locking tokens for ETH ETF issuers, it’s improbable that BNB will be treated any differently.
Interestingly, VanEck filed the S-1 form shortly after its CEO, Jan van Eck, met with Changpeng Zhao at the TOKEN2049 crypto gathering in Dubai.
“We are advising many countries (except in Europe) on how to set up a crypto reserve like in the US. Europe isn’t part of the discussion, it’s missing on the map ” – CZ on strategic reserve progress around world (of which he consults on) pic.twitter.com/IQAlxKj3md
— Eric Balchunas (@EricBalchunas) April 30, 2025
The timing has fueled speculation regarding possible agreements or mutual trust in their respective projects.
Could BNBUSDT Reach $1,000?
The approval process might extend over months or even years. Nonetheless, if the SEC approves the ETF that directly references BNB, it would legally allow institutions to gain exposure to the crypto token.
As a result, this development could lay a solid foundation for BNBUSDT to surge beyond its 2024 peaks, possibly even reaching $1,000.
On X, one analyst believes the token could rise to over $1,100.
$BNB long term targets
Looks like it’s breaking out of this trendline pic.twitter.com/ESUD2qGmHM
— TraderSZ (@trader1sz) May 5, 2025
However, regulatory obstacles persist. The SEC has previously referred to BNB and other best cryptos to consider buying, such as ADA and MANA, as unregistered securities.
Though these assertions were later retracted, the SEC has not officially classified BNB or ETH as commodities. Consequently, this ambiguity could serve as a hindrance, as regulatory clarity would facilitate a quicker approval process.
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VanEck Submits Spot BNB ETF Following Meeting with Binance CEO: Will BNB Reach $1,000?
- VanEck submits an S-1 form for the U.S.’s first spot BNB ETF
- VanEck is already issuing spot Ethereum and Bitcoin ETFs
- The founder of Binance and VanEck’s CEO met in Dubai during TOKEN2049
- Will BNBUSDT continue its upward trend and hit $1,000?
The post Spot BNB ETF Submitted Days After Binance Founder Met VanEck CEO: BNB on Track for $1,000? appeared first on 99Bitcoins.
