Binance Coin (BNB) Price Could Increase by 364% to $2,775 by 2028

According to a research report shared by Standard Chartered, the Binance Coin (BNB) can record a price increase of more than four times its current price value.

Crypto traders are closely following any developments regarding the possibility of a U.S. approval for a spot Bitcoin ETF.

Following closely on the heels of VanEck’s filing for a spot Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC), another crypto asset manager has submitted an application for a similar product.

According to a Tuesday report by Bloomberg, WisdomTree has filed for an ETF that would provide investors with direct exposure to the world’s leading cryptocurrency.

The application comes after the SEC rejected an application for a spot Bitcoin ETF from Bitwise in April. The regulator cited a lack of sufficient market surveillance in the applicant’s proposal.

However, the SEC did approve two futures-based Bitcoin ETFs from ProShares and later from another firm, paving the way for a wave of applications for spot products.

In May, the regulator also approved an Ethereum futures ETF.

The growing demand for a spot Bitcoin ETF has been driven by several factors, including the increasing institutional interest in cryptocurrencies and the growing frustration among traders with the futures ETFs.

The futures ETFs track Bitcoin futures contracts, which are traded on a U.S. futures exchange and are subject to different regulatory requirements.

The spot ETFs, on the other hand, would track the spot price of Bitcoin, which is the price at which the cryptocurrency is traded on spot cryptocurrency exchanges.

This would provide investors with a more direct and efficient way to invest in Bitcoin.

The applications for a spot Bitcoin ETF are still pending approval from the SEC. However, the fact that two major asset managers have now applied for such a product suggests that the regulator could be getting closer to approving one.

The approval of a spot Bitcoin ETF would be a major milestone for the cryptocurrency industry. It would make it easier for institutional investors to invest in Bitcoin and could lead to a significant increase in the cryptocurrency’s price.