VanEck Files Delaware Trust for Possible BNB ETF in the U.S

Key Takeaways:

• VanEck has applied to create a Delaware trust for a possible spot BNB ETF, so registering the first such filing in the United States.
• Already in Europe are BNB-related exchange-traded products (ETPs), such as the 21Shares BNB ETP started in Switzerland in 2019.
• This follows an uptick in U.S. crypto ETF applications, which VanEck has already submitted for, along with Bitcoin, Ether, Solana, and Avalanche.

An American exchange-traded fund (ETF) based on Binance Coin (BNB) is getting closer to launch at the worldwide investment management firm VanEck. Signifying a significant move toward bringing BNB into conventional financial markets, the firm filed a business in Delaware under the name VanEck BNB ETF on March 31, 2023. Reflecting rising institutional interest in digital assets, this application fits the developing pattern of crypto ETF applications in the United States.

VanEck’s BNB exchange-traded fund Submitting in Delaware

Recorded under file number 10148820, VanEck’s most recent filing names the entity as a trust corporate service corporation. Though a formal SEC (Securities and Exchange Commission) application is still necessary for regulatory clearance, this designation implies the company is establishing a legal framework for a future BNB ETF.

Read More: VanEck Registers Avalanche ETF in Delaware Amid AVAX & Altcoin Slump

Why It Is Important

The application is the first documented effort to create a spot BNB ETF in the United States. A controlled investment vehicle would allow this to bring Binance Coin to a broader spectrum of institutional and ordinary investors. The action is part of VanEck’s larger plan since the company has already applied for ETFs linked to Bitcoin (BTC), Ether (ETH), Solana (SOL), and Avalanche (AVAX).

BNB Exchange-Traded Products throughout Europe

Though VanEck’s application is the first of its sort in the United States, BNB-related exchange-traded products (ETPs) have been around in Europe for years. 21Shares started a BNB ETP in Switzerland in October 2019, providing European investors controlled access to Binance Coin. 

TradingView data indicates that the 21Shares BNB ETP now manages about $15 million in assets, or 0.3% of Switzerland’s total crypto AUM of $5.3 billion as of March 28. Market trends, on the other hand, show a notable drop in fund inflows with more than €537 million ($580 million) in withdrawals throughout the last year.

Read More: Why is BNB Price Up Today? Analyzing the Bullish Factors & Spotlight on Thriving BNB Chain Projects

The Increasing Popularity of Crypto ETFs in the United States

Rising Interest in Altcoin ETFs

VanEck’s BNB ETF application is part of a larger wave of crypto ETF filings. Following its applications for Bitcoin, Ether, and Solana ETFs, the company set for a comparable trust in Delaware for an Avalanche (AVAX) ETF in March 2025. 

At least nine companies have also sought XRP ETFs, indicating more interest in diversifying crypto investing tools. The current flurry of applications indicates that institutional investors are getting ready for more regulatory clarification on crypto-based financial products.

Competing Applications and Market Consequences

Leading digital asset manager Grayscale has now applied to start an Avalanche ETF on the NASDAQ. Should it be accepted, Coinbase Custody would serve as its custodian. This evolution follows the success of spot Bitcoin and Ether ETFs in 2024 and shows a fierce competition among asset managers to launch creative crypto ETFs.

VanEck’s BNB ETF: What Comes Next?

Though VanEck’s Delaware file is a first step, the company still has to send the SEC an official S-1 registration form. Given the regulatory attention on Binance and BNB, the approval procedure may be difficult.

The post VanEck Files Delaware Trust for Possible BNB ETF in the U.S appeared first on CryptoNinjas.