VanEck Is Making Its Move Toward a Binance Coin (BNB) ETF in the U.S

The firm just registered a trust entity in Delaware for the VanEck BNB ETF—an essential first step before it officially takes things to the SEC.

The crypto community is buzzing with anticipation as VanEck, a pioneer in the space, appears to be setting the stage for a Binance Coin (BNB) ETF in the U.S.

The firm has just registered a trust entity in Delaware for the "VanEck BNB ETF," a crucial step ahead of seeking approval from the Securities and Exchange Commission (SEC), according to a filing on Friday.

This filing, made on March 31 and assigned filing number 10148820, positions BNB alongside Bitcoin, Ether, Solana, and Avalanche, the cryptocurrencies for which VanEck has initiated standalone ETF registrations in Delaware.

BNB-related products like the 21Shares Binance BNB ETP have been available in global markets, but a U.S.-based BNB ETF has yet to exist.

VanEck, a leading name in the crypto ETF space with nearly $115 billion in assets under management, has been steadily growing its lineup. After securing SEC approval, the firm launched spot Bitcoin and Ethereum ETFs last year. More recently, it filed for the first-ever Solana (SOL) and Avalanche (AVAX) ETFs in the US.

If approved, the VanEck BNB ETF would directly track the Binance Coin’s price.

Currently, BNB ranks as the fifth-largest cryptocurrency by market capitalization and was trading around $598 at press time, showing minimal change in the past 24 hours, according to CoinMarketCap.

VanEck has been a key player in the crypto ETF space since its filing for a Bitcoin futures ETF with the SEC back in 2017.

The firm’s initiative to create an ETF that follows the futures market ultimately led to the approval of the first-ever Bitcoin futures ETF from ProShares later that year.

Now, VanEck is returning to the SEC with an application for a spot Bitcoin ETF, marking another significant step in expanding regulated crypto investment options in the U.S.

As the crypto market continues to evolve, the role of institutions like VanEck in facilitating accessible and regulated investment vehicles will be critical in bridging the gap between traditional finance and the decentralized ecosystem.