VanEck Files for a Spot BNB ETF, Targeting the First-Ever Binance Coin (BNB) Product

VanEck, a prominent global asset manager with $115 billion in assets under management, has made another serious move to push the United States' first Binance Coin (BNB)

VanEck, a global asset manager with $115 billion in assets under management, is making another serious move to push the United States’ first Binance Coin (BNB) exchange-traded fund (ETF) into Reaganomics.

The asset manager filed on March 31 to register the VanEck BNB ETF as a statutory trust in Delaware, the state’s fifth ETF filing for the crypto coin. This marks the next step in bringing the institutional product one step closer to approval by the U.S. Securities and Exchange Commission (SEC).

Once the ETF receives SEC approval, it will follow the price performance of Binance Coin, offering investors a regulated way to gain exposure to the fifth-largest cryptocurrency by market capitalization.

At the time of writing, Binance Coin is trading at $601.06 in a slight downturn over the last 24 hours, according to Benzinga Pro.

See Also: How To Invest In Binance Coin (BNB)

What Happened: Among the lastest endeavors by the asset manager to expand its crypto ETF portfolio, VanEck is registering its fifth crypto ETF in Delaware. The firm is already preparing to launch an ETF that tracks the price movements of Solana (CRYPTO: SOL), for which an application was submitted earlier this year.

Its application for an ETF that follows the price of Bitcoin (CRYPTO: BTC) was refused by the SEC in January. The SEC also rejected an application for an ETF that follows the price of Ethereum (CRYPTO: ETH), which was submitted by WisdomTree (NYSE: WIT). Both applications were denied due to a lack of information about the ETFs’ ability to prevent fraud, despite the SEC’s approval of several other types of ETFs from firms like ProShares and Investers.

This time period has seen a strong interest from institutional investors in altcoins. Earlier this month, Bitwise announced its intention to create an ETF based on the price of Cardano (CRYPTO: ADA). Meanwhile, Shapeshift announced the launch of its own Bitcoin Cash (CRYPTO: BCH) ETF.

What Next For BNB Price: The price of BNB has been exhibiting a dynamic trading pattern, presenting both bullish and bearish signals in recent analysis.

Chart 1, analysed by anushrivarshney2613, published on TradingView, April 2, 2025

A Breakout is identified, indicating an initial surge past a key resistance level. However, BNB’s price action is currently being observed within a defined channel, with a resistance level around $619 and a support level around $604.

The RSI, a technical indicator used to measure the magnitude of price changes to identify overbought or oversold conditions, indicates levels above and below the standard 30 and 70 thresholds, which are interpreted as periods of great buying or selling strength.

The price of BNB around $602.30 shows the market environment is indifferent, whereas, on the contrary, any good news from regulators concerning VanEck’s attempt to secure an ETF for BNB would propel it bullishly through $620, the resistance level.

All these technical indicators and regulatory catalysts will affect the prediction of BNB’s price, making it necessary for traders to monitor chart patterns and news flow very carefully.