VanEck's BNB ETF Filing Has Sparked a Flurry of Speculation

Bloomberg analyst Eric Balchunas' comments have fueled further debate about the potential motivations behind the move.

Asset manager VanEck's filing for a BNB ETF has sparked a flurry of speculation, with Bloomberg analyst Eric Balchunas's comments fueling further debate about the potential motivations behind the move. The analyst has put forth an intriguing theory, suggesting a possible link between VanEck's BNB ETF filing and a critical statement made by Binance founder Changpeng Zhao.

Specifically, Eric Balchunas's wild estimation that Changpeng Zhao's recommendation to include Binance Coin (BNB) in the US crypto reserve has influenced VanEck's decision.

In a recent X post, the Bloomberg analyst provided a theory suggesting a possible reason for VanEck's latest decision to launch a BNB ETF, sparking debate. According to him, VanEck's ETF move is largely influenced by Binance Founder Changpeng Zhao's (CZ) advice to accept BNB as a crypto reserve. Balchunas stated,

If you heard CZ speak last week, he said he is advising multiple governments on establishing crypto reserves and looks like he advising BNB be part of the reserve. IMO maybe that’s what caught Jan VanEck’s attn and acted on it. Again, just a theory but it’s a pretty damn logical one.

Notably, VanEck's decision to launch the first ETF linked to Binance's native token BNB has sparked intense debate within the crypto market. These discussions have been intensified with the Binance founder's alleged connection with the move, as highlighted by the Bloomberg analyst.

However, some express concerns about the ETF filing, questioning Binance's centralized control over the token and criticizing the involvement of CZ in advising governments on cryptocurrency reserves, potentially including BNB. This could spark fears of potential regulatory backlash given Binance's past legal challenges.

Furthermore, the potential Binance Coin ETF launch could spark a price rally for the BNB token, currently trading at $597.96, up 0.24%. The token is reportedly poised for a price surge following the ETF launch.

If approved, the ETF could drive significant institutional inflows, potentially pushing BNB prices higher, aiming for a new all-time high of $790.