VANECK文件啟動有史以來第一個點BNB ETF

這標誌著Altcoin ETF空間的重大發展，該空間具有超過70個活動應用。

VanEck has officially filed a registration statement for the first-ever spot bitcoin ETF with the U.S. Securities and Exchange Commission (SEC).

Vaneck已正式向美國證券交易委員會（SEC）向有史以來的首次現場比特幣ETF提交了註冊聲明。

This filing marks a significant development in the altcoin ETF space, which currently has over 70 active applications.

該文件標誌著Altcoin ETF空間的重大發展，該空間目前擁有超過70個活動應用。

If approved, VanEck’s ETF would provide U.S. investors with direct exposure to the price movements of Binance Coin through a regulated investment vehicle.

如果獲得批准，Vaneck的ETF將通過受監管的投資工具為美國投資者直接接觸Binance硬幣的價格變動。

The fund, which is seeking listing on a national exchange under a yet-to-be-disclosed ticker, was established earlier this year when VanEck set up a legal entity in Delaware specifically for this purpose.

該基金正在根據尚未披露的股票尋求在國家匯率上的上市，該基金是在今年早些時候建立的，當時Vaneck專門為此目的在特拉華州建立了一個法人實體。

According to the prospectus, the ETF is designed to track the price of BNB, less operational costs. This move is part of VanEck’s broader initiative to increase investor access to digital assets through traditional financial instruments.

根據招股說明書的說法，ETF旨在跟踪BNB的價格，運營成本較小。此舉是Vaneck通過傳統金融工具提高投資者對數字資產訪問權限的廣泛計劃的一部分。

“The Trust's objective is for the units to begin trading on a national exchange at a price that closely follows the market price of the Index, which is expected to be the average price of BNB on the Top 5 Global Trading Platforms at any given time. We selected the Top 5 Global Trading Platforms based on a ranking of liquidity and volume. In addition, the primary Global Trading Platforms on which Authorized Participants are expected to value and trade BNB for purposes of Issuance, Redemption, and ETF share price stabilization are expected to be among the Global Trading Platforms ranked in the Top 5 at any given time. This is intended to minimize any arbitrage opportunities and promote efficient price convergence. Ultimately, the ETF units will be priced in accordance with standard market practice, taking into account factors such as supply and demand for the units and the market value of the Trust's BNB portfolio.”

“信託基金的目標是使單位以緊密遵循該指數的市場價格開始進行國家交易，預計將是在任何給定時間的全球5個全球交易平台上BNB的平均價格。我們選擇了基於流動性和對ISS的排名，在此提供了預期的bn，我們選擇了全球5號全球交易平台。 ETF股價穩定預計將在任何給定時間排名前5名。

The ETF will hold actual BNB tokens, with valuations based on an index calculated by MarketVector Indexes. This index tracks prices from the top five global trading platforms, ranked by liquidity and volume.

ETF將擁有實際的BNB代幣，並根據市場向量指數計算的指數進行估值。該索引跟踪來自前五名全球交易平台的價格，並以流動性和數量排名。

Authorized participants will issue and redeem ETF shares in large blocks, called “Baskets”. These transactions will be conducted through cash payments or in-kind BNB transfers.

授權的參與者將以稱為“籃子”的巨大區塊發行並兌換ETF股票。這些交易將通過現金支付或實物BNB轉移進行。

Retail investors can buy and sell shares on secondary markets. Prices will be determined by supply, demand, and the fund’s BNB holdings.

零售投資者可以在二級市場上買賣股票。價格將取決於供應，需求和基金的BNB持股。

The ETF is not registered under the Investment Company Act of 1940. It does not qualify as a commodity pool and falls outside the CFTC’s jurisdiction. Additionally, it is not classified as an investment adviser.

ETF未根據1940年的《投資公司法》進行註冊。它不符合商品庫的資格，而屬於CFTC管轄範圍。此外，它沒有被歸類為投資顧問。

Pending regulatory approval, the fund may stake BNB through trusted providers, potentially including VanEck affiliates. Any staking rewards would be treated as income for the trust.

在法規批准之前，該基金可以通過可信賴的提供商（包括Vaneck分支機構）來維持BNB。任何存放獎勵都將被視為信託的收入。

The ETF has already received seed capital from a private investor, who initially purchased “Seed Shares” before exchanging them for ETF shares at the time’s BNB index value.

ETF已經從私人投資者那裡獲得了種子資本，該投資者最初購買了“種子股”，然後在當時的BNB指數價值將其換成ETF股票。

However, the ETF carries significant risk, with concerns over BNB’s volatility and the potential for total loss. The FDIC and other government agencies do not insure the shares, and the fund will not claim forked tokens, airdrops, or similar rights.

但是，ETF具有很大的風險，擔心BNB的波動性和總損失的潛力。 FDIC和其他政府機構不能保證股票，該基金不會要求分叉的令牌，空調或類似權利。