VanEck’s Bold BNB ETF Move: A Delaware Adventure!

Well, folks, it seems VanEck’s got a hankerin’ for somethin’ new. They done filed to set up a trust company in Delaware, and not just any company, mind you, but one that’s fixin’ to track Binance‘s very own BNB cryptocurrency in an ETF. 🤠💰

As of March31, they’ve christened this new venture the VanEck BNB ETF, all nice and official-like in the state of Delaware. This here filing, numbered10148820, sets the stage for what might just be the first spot BNB ETF in the good ol’ US of A. 🎩📜

Now, if the whispers on the social media wires are to be believed, VanEck’s the first to dip their toes in these waters, hinting at BNB Chain’s grand ambitions to strut its stuff in the traditional financial market. 🌐💼

Europe‘s Already Got a Taste for BNB ETPs

While VanEck’s makin’ waves across the pond, let’s not forget our European friends have been enjoyin’ their own BNB exchange-traded product (ETP) for a good while now.21Shares, a bigwig in the crypto asset management game, launched theirs back in October2019. 🍷📈

But here’s a kicker: the21Shares BNB ETP ain’t exactly the belle of the ball, sittin’ pretty with just $15 million in assets under management. That’s a mere0.3% slice of Switzerland’s whole crypto pie, which stands at a hefty $5.3 billion as of late March. And the fund flows? Well, they’ve seen better days, droppin’ a cool $580 million in the past year. 📉💸

What in Tarnation is BNB?

BNB, formerly known as Binance Coin, is the pride and joy of the BNB Chain. It’s billed as a “community-driven, decentralized blockchain ecosystem” for all them fancy Web3 decentralized applications. 🌐🚀

Born in July2017 as an Ethereum-based ERC-20 token, BNB was Binance’s way of sayin’, “Hey, trade with us, and we’ll sweeten the deal with some discounted fees.” Fast forward to today, and BNB’s sittin’ pretty as the fifth-largest crypto by market cap, valued at a whopping $88 billion. 💎📊

Altcoin ETFs Are All the Rage Thanks to Trump

VanEck’s BNB ETF trust filing ain’t alone in this rodeo. It’s just one of a slew of new US altcoin ETF filings that’ve sprung up since Donald Trump’s been back in the spotlight. 🇺🇸📜

Early March saw VanEck registerin’ a similar trust for an Avalanche (AVAX) ETF, and let me tell ya, they’re leadin’ the charge. And don’t get me started on XRP ETFs – the SEC’s been flooded with filings from at least nine companies by mid-March. Seems like everyone’s got a piece of the pie they wanna bake. 🥧💼

Read More

• The Last of Us season 2 confirms spring 2025 release on HBO

• Cookie Run: Kingdom Version 6.4 mid update brings Beast Raid, Boss Rush Season 2-2 and more

• Clair Obscur: Expedition 33 Ending—Maelle or Verso? All Endings and Twist Explained

• Mission: Impossible The Final Reckoning Review: An Adrenaline-Fueled Homage

• Netmarble announces Game Of Thrones: Kingsroad, with the open-world RPG coming to Mobile and PC in 2025

• The Handmaid’s Tale season 6: Everything we know about the final season

• Deadly Dudes Hero Tier List

• Original The Elder Scrolls IV: Oblivion Designer Says Bethesda’s Remaster Is So Impressive It Could Be Called ‘Oblivion 2.0’

• Cookie Run: Kingdom Pure Vanilla Cookie (Compassionate) Guide: How to unlock, Best Toppings, and more

• DreamHack Dallas meets IEM Dallas 2025: Everything to know and how to secure your tickets

2025-04-02 13:55