VanEck has made a move to expand its digital asset footprint by filing to establish a trust for the first-ever ETF that will track the price of Binance Coin.
Filing for Binance Coin ETF
On March 31, asset manager VanEck filed to establish a trust for the first-ever Binance Coin (BNB) ETF in Delaware. This marks a new step in the ETF launch process, potentially becoming the first such product in the U.S.
VanEck's ETF Experience and History
VanEck has been expanding its presence in the digital asset space since 2017. The company launched the first Bitcoin futures ETF and subsequently introduced its spot Bitcoin ETF and Ethereum ETF in 2024, showcasing its pioneering role in this field.
Next Steps and Other Initiatives
Besides Binance Coin filings, VanEck has also filed for the first Solana and Avalanche ETFs. These applications are still under review by the U.S. SEC. Approval would further strengthen VanEck's standing in the ETF market within the digital asset sector.
VanEck's new Binance Coin ETF proposal underscores the company's ongoing efforts to expand its capabilities in digital assets and financial innovation. It will be interesting to watch these initiatives develop.
