Asset manager VanEck is making strides in the crypto space with its proposal to launch the first Binance Coin (BNB) ETF in the US. As part of the move, the investment giant filed the S1 form with the US Securities and Exchange Commission (SEC).
Notably, VanEck’s move reflects a growing interest in altcoin ETFs, as investors seek diversified exposure to cryptocurrencies beyond Bitcoin and Ethereum.
VanEck Submits S1 Form to Launch BNB ETF
Reportedly, VanEck is taking concrete steps toward launching a Binance Coin (BNB) ETF by submitting a crucial registration statement, the S-1 form, to the SEC. If approved, the trust’s BNB holdings can be utilized to generate staking rewards, additional BNB, or other forms of income.
This move follows VanEck’s registration in Delaware to launch a BNB exchange-traded fund in early April 2025. VanEck’s initiative is significant as it would be the first US-based ETF focused on Binance Coin (BNB). Although BNB-related products like the 21Shares Binance BNB ETP are available, they are structured as exchange-traded products (ETPs) rather than traditional ETFs and are not based in the US. In March, VanEck filed an S-1 form, seeking approval for an Avalanche ETF.
The post Breaking: VanEck Files S1 Form With US SEC To Launch BNB ETF appeared first on CoinGape.
