The investment giant Vaneck has registered A binance coin (BNB) stock-traded fund in Delaware, which marks its fifth Cryptocurrency ETF registration in the state. The move comes when large financial institutions continue to invest in digital assets despite market vollatility.
BNB joins the Vaneck Crypto ETF range
According to public registers on Delaware’s official state website, Vaneck Registered the new product on Monday during archiving number 10148820. “Vaneck BNB ETF” was registered as a trust company service company after similar registrations for Bitcoin, Ethereum, Solana and Avalanche ETFS.
The New York-based company confirmed BNB ETF Will track the price of Binance Coin, currently ranked as the fifth largest Cryptocurrency with a market value of about $ 599. The data on the chain showed that BNB’s trade volume jumped 40% to over $ 2 billion after the announcement.
First BNB ETF attempt in US markets
Vaneck’s archiving represents the first attempt to create a binance coin ETF specifically for US investors. While other BNB-related products are available in global markets, such as 21 Shares Binance ETP, no one is based in the United States. The 21Shares product is still the only exchange-traded note that tracks the Binance Coin Index.
Only in: Vanecke records unit for potential first BNB ETF in the United States
Vaneck has submitted in Delaware to register a device and suggested plans for the first BNB ETF ever in the US market. The move marks a significant step towards extending the availability of Binance Coin … pic.twitter.com/ifxbvu4mkd
– Crypto Town Hall (@crypto_townhall) April 2 2025
Registration follows Vaneck’s successful launches of Bitcoin and Ethereum ETFs last year after securing securities and exchange commission. The company manages almost $ 115 billion in customer assets globally.
CRYPTO ETF —Lop
“Vaneck seems to take a” throw everything on the wall and see what sticks “strategy, which makes sense,” said Sumit Roy, Senior ETF analyst at ETF.com. “Avalanche is not the most traded cryptocurrency, but to be the first to market with an ETF in a new category comes with potential upside and small disadvantage.”
BNB market cap currently at $85 billion. Chart: TradingView.com
The move comes just weeks after Vaneck applied for SEC approval to start the first AVAX ETF. Based on reports from Delaware’s state website, that document was registered under file number 10125689.
Vaneck is not alone in conducting alternative Cryptocurrency ETFs. Grayscale has also applied to launch funds based on XRP, Solana and Dogecoin. The company’s Bitcoin fund currently manages almost $ 17 billion and is ranked as third among Bitcoin funds from companies such as Blackrock and Fidelity.
Crypto ETFs get speed
The surge in ETF applications follows the strong result of the Spot Bitcoin and Ethereum funds in 2023. Crypto-based stock market products have drawn approximately $ 44 billion in assets in 2024 alone.
Nasdaq Exchange also submitted an application to SEC on March 28 to list shares in an Avalanche ETF issued by Crypto Asset Manager Grayscale. According to filing documents, Grayscale’s AVAX fund would use Coinbase custody as guardians.
Vaneck’s latest move with BNB Suggest large financial institutions see growing investors appetite for regulated Cryptocurrency investment vehicles in addition to Bitcoin. The company applied for a Solana ETF in June 2024, which made it the first potential SOL-Exchanging Fund in the United States.
In order to obtain official approval, Vaneck must now submit a formal S-1 form at SEC for these recently registered Krypto-ETFs.
Image from Gemini Imagen, Chart from TradingView
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