10X Capital and YZi Labs have announced the formation of BNB Treasury Company, an investment fund aimed at providing U.S. investors with the opportunity to acquire BNB tokens.
Backing from Binance founders’ family office
YZi Labs, which manages around $10 billion in assets and is the family office of Binance co-founders, has confirmed its support for the establishment of BNB Treasury Company. Further details on its financial and operational involvement were not disclosed.
Capital raised to fund initial BNB acquisition
10X Capital has partnered with Cohen & Company Capital Markets and Clear Street LLC to raise funds needed for the initial purchase of BNB. The investment firm will also manage the BNB Treasury Company and has experience in launching digital asset treasury firms.
Institutions move to BNB accumulation in search of gains
Recent reports indicate that 10X Capital and other institutions are starting to add BNB to their portfolios. For instance, Chinese company Nano Labs Ltd disclosed a $50 million purchase of BNB tokens.
The establishment of BNB Treasury Company reflects the growing interest of institutional investors in the BNB token and its ecosystem, as well as the drive to provide broader access to digital assets.
