VanEck aims to launch a spot BNB ETF in the USA

VanEck seems to want to launch a spot BNB ETF in the USA. The investment manager has proposed the establishment of a trust in Delaware, while awaiting the outcomes of the ETF on Solana and on Avalanche. 

VanEck and the plan to launch a new ETF on BNB spot in the USA

VanEck has registered for the listing of a spot BNB ETF, the first of its kind in the United States. 

Specifically, it seems that the investment manager has proposed the establishment of a trust in Delaware for a BNB ETF. If approved, VanEck’s BNB ETF would be the first product of its kind listed in the USA.

In practice, the registration of VanEck for its ETF on BNB represents a preliminary step for the submission of a formal application to the United States Securities and Exchange Commission (SEC).

It seems that VanEck continues to want to excel in the category of crypto ETFs. In fact, the company was among the first issuers of ETFs on Bitcoin (BTC) and Ethereum (ETH) in the United States, following their approval in January and July 2024, respectively.

VanEck and the ETF on BNB spot in the USA: the other pending applications

While now VanEck is officially starting to take an interest in issuing a spot BNB ETF in the USA, the company is awaiting responses for other applications. 

In fact, at the beginning of last month, VanEck registered an ETF on Avalanche (AVAX) in the United States. This move is somewhat of a preview here as well of what the demand for a spot ETF on AVAX could be.

A real question awaiting a response from the SEC of the USA is instead that of its ETF on Solana (SOL) spot. 

In practice, in June 2024, Matthew Sigel, head of digital asset research at VanEck, had shared the news on X, stating that the new fund has been named Vaneck Solana Trust.

The price of BNB

In the meantime, the price of BNB does not seem to register particular volatility that would indicate the appreciation of the news of an ETF on BNB coming. 

In fact, at the time of writing, BNB is worth $600, compared to $610 twenty-four hours ago. The current price is also in a bear dump of -5% compared to seven days ago.

BNB reached its ATH or All-Time High or historical maximum recently. Exactly last December 2024, when BNB surpassed the $750 threshold for the first time. 

The fifth crypto by market capitalization thus follows the general trend of the bear market crypto.