This action positions Binance Coin with other giant cryptocurrencies—Bitcoin, Ethereum, Solana, and Avalanche—for which ETF filings have been submitted in the country.
VanEck is making a significant move in bringing Binance Coin (BNB/USD) to the United States. The company has registered for a BNB ETF trust in the state of Delaware, a key step toward launching an exchange-traded fund.
This action places Binance Coin alongside other giant cryptocurrencies—Bitcoin, Ethereum, Solana, and Avalanche—for which ETF filings have been submitted in the country. While BNB has global exchange-traded products (ETPs) such as the 21Shares Binance BNB ETP, it has never had one based in the U.S.
If approved, VanEck’s ETF will track the price of BNB, offering investors a more convenient means of gaining exposure to the token.
BNB is currently trading at around $587.46, having decreased by 2.66% over the past 5 days. However, trading volume shot up by a massive 42% to over $2.12 billion after VanEck took this step.
This move could further legitimize and expand the appeal of Binance Coin among retail and institutional investors. Often viewed as a less volatile cryptocurrency, U.S. traders typically prefer gaining exposure to Bitcoin and Ethereum through futures ETFs or through trusts that hold the underlying tokens.
However, with growing demand for crypto investments, there’s potential for more diversified offerings like a spot BNB ETF to gain approval in the future.
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