VANECK文件启动有史以来第一个点BNB ETF

这标志着Altcoin ETF空间的重大发展，该空间具有超过70个活动应用。

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

Vaneck已正式向美国证券交易委员会（SEC）向有史以来的首次现场比特币ETF提交了注册声明。

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

该文件标志着Altcoin ETF空间的重大发展，该空间目前拥有超过70个活动应用。

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.

如果获得批准，Vaneck的ETF将通过受监管的投资工具为美国投资者直接接触Binance硬币的价格变动。

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.

该基金正在根据尚未披露的股票寻求在国家汇率上的上市，该基金是在今年早些时候建立的，当时Vaneck专门为此目的在特拉华州建立了一个法人实体。

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.

根据招股说明书的说法，ETF旨在跟踪BNB的价格，运营成本较小。此举是Vaneck通过传统金融工具提高投资者对数字资产访问权限的广泛计划的一部分。

“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.”

“信托基金的目标是使单位以紧密遵循该指数的市场价格开始进行国家交易，预计将是在任何给定时间的全球5个全球交易平台上BNB的平均价格。我们选择了基于流动性和对ISS的排名，在此提供了预期的bn，我们选择了全球5号全球交易平台。 ETF股价稳定预计将在任何给定时间排名前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将拥有实际的BNB代币，并根据市场向量指数计算的指数进行估值。该索引跟踪来自前五名全球交易平台的价格，并以流动性和数量排名。

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.

授权的参与者将以称为“篮子”的巨大区块发行并兑换ETF股票。这些交易将通过现金支付或实物BNB转移进行。

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

零售投资者可以在二级市场上买卖股票。价格将取决于供应，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未根据1940年的《投资公司法》进行注册。它不符合商品库的资格，而属于CFTC管辖范围。此外，它没有被归类为投资顾问。

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.

在法规批准之前，该基金可以通过可信赖的提供商（包括Vaneck分支机构）来维持BNB。任何存放奖励都将被视为信托的收入。

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已经从私人投资者那里获得了种子资本，该投资者最初购买了“种子股”，然后在当时的BNB指数价值将其换成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具有很大的风险，担心BNB的波动性和总损失的潜力。 FDIC和其他政府机构不能保证股票，该基金不会要求分叉的令牌，空调或类似权利。