VanEck Files First US Binance Coin ETF, Offering Institutional Access to Crypto

Asset management firm Van Eck has submitted a proposal to the U.S. Securities and Exchange Commission for an exchange-traded fund (ETF) tracking Binance Coin (BNB). The proposed ETF aims to hold spot BNB tokens and may periodically stake portions of its assets through reputable providers, according to details outlined in its S-1 prospectus. This marks the first time a US asset manager has sought to launch a BNB ETF, offering institutional investors a regulated way to gain exposure to the cryptocurrency without holding or storing the underlying asset directly.