Asset manager VanEck has filed a registration statement with the U.S. Securities and Exchange Commission to launch the first U.S.-based exchange-traded fund (ETF)
Asset manager VanEck has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the first U.S.-based exchange-traded fund (ETF) tied to Binance Coin (BNB).
If approved, the ETF would mark a major milestone for altcoin financial products, broadening access to crypto investment beyond Bitcoin and Ethereum, reports CoinGape.
The filing with the SEC on Wednesday comes after VanEck registered a BNB trust in Delaware in April. The firm is also seeking approval for other altcoin ETFs, including an Avalanche ETF.
The ETF would be structured as a trust, with shares of the ETF sold on a national securities exchange. The filing also mentions that BNB held in the trust may be used to generate staking rewards, potentially adding an income layer for ETF holders.
While products such as the 21Shares BNB ETP already exist in Europe, no BNB ETF has yet been approved in the United States.
The filing follows a period of inactivity in the U.S. ETF market, with no new approvals since early 2022. However, several firms, including BlackRock and Ark Invest, are actively seeking approval for various crypto ETFs.
Recently we wrote that Morgan Stanley is preparing to introduce cryptocurrency trading on its E*Trade platform, signaling a significant expansion into digital assets as the Trump administration dismantles longstanding regulatory hurdles.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
