VanEck has filed for an ETF for Binance Coin (BNB) in Delaware, USA. This marks the initial step towards potentially approving the first BNB ETF in the country.
VanEck's BNB ETF Application
Fund manager VanEck has registered a spot BNB ETF in Delaware. This could be the first ETF product for BNB in the USA, pending federal approval.
Registration Details
According to officials, Delaware registration is a preliminary step before filing an S-1 application with the U.S. Securities and Exchange Commission. Previously, VanEck registered an Avalanche (AVAX) ETF in Delaware.
Market Reaction
Following the application, BNB trading volume increased by 42%, reaching $2.12 billion, despite the 1.5% price drop to $605 in the last 24 hours.
The VanEck application for a BNB ETF could prove to be a significant step for the U.S. crypto market, offering new opportunities for investors and strengthening Binance Coin's position among major altcoins.
