Financial giant VanEck has taken a significant step into the cryptocurrency space in the United States by registering a trust company in Delaware for an exchange-traded fund (ETF) backed by the cryptocurrency BNB token.
native from the Binance exchange. The information was revealed from public records on the official website of the state of Delaware.
This record, held on March 31 under the name “VanEck BNB ETF”, signals the potential launch of a spot BNB ETF in the US market, a development that could open the door for a new flow of institutional capital into the BNB Chain ecosystem.
At the time of publication, the BNB price was trading at $601.27, down 1.7% over the past 24 hours. In a week, the asset’s price has dropped by almost 5%. However, the network has seen a significant increase in trading volume. BNB (BNB) trading volume was $1,621,454,858 in the past 24 hours, representing a 60.90% increase from a day ago and signaling a recent surge in market activity.
VanEck’s move puts the company at the forefront of offering traditional BNB-linked financial products in the U.S. VanEck’s decision to register the trust company in Delaware is a crucial strategic step in the process of launching an ETF.
The approval of a BNB ETF in the United States would represent a significant milestone in the market, expanding the accessibility of cryptocurrency to traditional investors and driving adoption of BNB Chain. The potential approval of a BNB ETF in the United States could have a significant impact on the cryptocurrency market, boosting liquidity and demand for BNB. The accessibility of the ETF to traditional investors, who prefer to invest in regulated, exchange-traded financial products, could lead to a significant increase in BNB trading volume and further integration of cryptocurrency into the traditional financial system.