- The BNB-ETF application submitted by Vaneck is the first attempt in the United States to offer direct engagement in BNB token.
- The ETF would include staking through which investors earn BNB premiums through trustworthy partners.
Vaneck has taken an important step to expand its crypto investment offer in the United States with the application for a stock market-traded BNB fund (ETF). If this is approved, this would be the first ETF in the country, the BNB, the native asset of the BNB chain.
The step signals a growing institutional interest in BNB as a digital asset and strengthens Vaneck’s position as an important player on the crypto ETF market. Since the interest of the regulatory authorities continues to increase in token-based ETFs, the US stock exchange supervision SEC will examine the application.
Vaneck requests BNB-ETF with direct token engagement
The application, which was submitted on May 2 under the form S-1, outlines the plan of Vaneck to offer investors direct access to BNB. In the event of a permit, the Vaneck BNB ETF would be the first product listed in the USA that BNB holds directly and not over derivatives or futures. Vaneck has not announced a ticker symbol for the new fund. The ETF will reproduce the course of BNB and be kept by a regulated crypto deposit point (names have not yet been mentioned).
According to the submission, Vaneck will also introduce staking into the ETF frames, whereby the approval of the stock market supervision is still pending. If the approval is granted, staking enables the ETF to achieve passive income by delegating BNB to trustworthy providers. In the prospectus, it is pointed out that the Staking partners could also include connected companies from Vaneck (subject to supervision). This would be the first time that a crypto-spot ETF in the USA uses staking as an earnings mechanism.
The submission to the SEC follows the establishment of a trust company for the ETF in Delaware in the past month, which was a preliminary stage for this submission. The BNB ETF is the latest addition to Vaneck’s growing list of crypto ETF suggestions, which already includes Bitcoin, Ethereum, Solana and Avalanche.
BNB becomes the fifth crypto asset in Vaneck’s ETF engagement
As CNF reports, Vaneck is an early market leader in investment products for digital assets. The company was one of the first to launch Bitcoin and Ethereum ETFs in the United States after it received the approval of the SEC last year. Vaneck first entered the crypto area in 2017 when it suggested one of the first Bitcoin futures ETFs. With the submission of the BNB ETF, the asset manager extends his commitment to the most important blockchain ecosystems.
According to our data, BNB, the fifth largest cryptocurrency after market capitalization, is traded at $ 608 and has not changed in the last 24 hours. The token is the heart of the BNB-Chain system and enables transaction fees, smart contracts and decentralized applications. He also plays a key role in the bony system and supports a number of financial services.
Vaneck could have started a big step for BNB in the United States, subject to approval. Since the SEC continues to check token-based ETFs, Vaneck’s application is a sign of institutional trust in the long-term use and investment of BNB.
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