VanEck Seeks Approval for BNB ETF in the US

“BNB is Coming for Your Wallets!”

Oh la la! On March 31, the company filed to register the VanEck BNB ETF in Delaware, signaling its intentions to introduce a new financial product linked to Binance’s BNB cryptocurrency. Ah, the plot thickens, n’est-ce pas?

A New Chapter for BNB in the U.S. Market

VanEck’s registration of the VanEck BNB ETF could mark the beginning of greater mainstream acceptance for Binance’s BNB in traditional finance. The company filed the trust under Delaware’s corporate service company laws, laying the groundwork for a potential spot ETF based on Binance Coin. This filing makes VanEck the first company to take such a step in the U.S., potentially paving the way for more crypto ETFs to enter the market. Vive la différence!

BNB ETP Already Exists in Europe

Though VanEck is the first to propose a BNB ETF in the U.S., European markets already offer a similar product. In 2019, 21Shares launched the BNB exchange-traded product (ETP) in Switzerland. The product has, however, struggled to gain traction, with only $15 million in assets under management (AUM) as of March 2025. Ah, les Européens, always so…prudent.

Struggles of European BNB Products

21Shares’ BNB ETP has seen a noticeable drop in fund flows, with $580 million exiting over the past year. Despite being a pioneer in offering BNB to European investors, the product only captures 0.3% of the total crypto AUM in Switzerland. Mon dieu, les chiffres sont tristes!

What the U.S. BNB ETF Could Mean for Crypto

VanEck’s move to file for a U.S.-based BNB ETF highlights the growing interest in Binance’s BNB within traditional financial markets. The U.S. has yet to fully embrace cryptocurrency-focused ETFs, but VanEck’s filing could help usher in greater institutional interest. If approved, it would allow U.S. investors to gain direct exposure to BNB without holding the cryptocurrency themselves. Ah, la vie est belle!

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2025-04-02 18:13