{"id":20180,"date":"2025-04-02T10:47:20","date_gmt":"2025-04-02T10:47:20","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20180"},"modified":"2025-04-02T10:47:20","modified_gmt":"2025-04-02T10:47:20","slug":"vaneck-eyes-bnb-etf-with-latest-delaware-trust-filing","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20180","title":{"rendered":"VanEck eyes BNB ETF with latest Delaware trust filing"},"content":{"rendered":"
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\"VanEck<\/p>\n

Investment company VanEck filed to register a Delaware trust company for an exchange-traded fund (ETF) tracking Binance-linked BNB cryptocurrency.<\/p>\n

VanEck, on March 31, registered a new entity under the name VanEck BNB ETF in Delaware, according<\/a> to public records on the official Delaware state website.<\/p>\n

In filing 10148820, the entity is registered as a trust corporate service company in Delaware, hinting at a potential spot BNB (BNB<\/a>) ETF in the United States.<\/p>\n

\"VanEck
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VanEck BNB ETF trust registration in Delaware. Source: Delaware.gov<\/em><\/p>\n<\/figcaption><\/figure>\n

According<\/a> to social media reports, VanEck is the first company to propose a potential BNB ETF in the US, potentially signaling an expansion of BNB Chain \u2014 formerly known as Binance Chain \u2014 across traditional financial products in the market.<\/p>\n

BNB ETP product already exists in Europe<\/h2>\n

While VanEck is the first to move toward a potential BNB ETF product in the US, similar products have been trading in Europe for several years.<\/p>\n

Prominent European crypto asset manager 21Shares launched a BNB exchange-traded product (ETP) in Switzerland in October 2019, according<\/a> to TradingView.<\/p>\n

\"VanEck
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21Shares BNB ETP details. Source: TradingView<\/em><\/p>\n<\/figcaption><\/figure>\n

TradingView data suggests that 21Shares BNB ETP has only $15 million in assets under management (AUM), a 0.3% share of Switzerland\u2019s total crypto AUM of $5.3 billion as of March 28, as reported<\/a> by CoinShares.<\/p>\n

Related: <\/strong><\/em>Grayscale files S-3 for Digital Large Cap ETF<\/strong><\/em><\/a><\/p>\n

The product reportedly saw a significant drop in fund flows in the past year, totaling 537 million euros, or $580 million.<\/p>\n

What is BNB?<\/h2>\n

Formerly known as Binance Coin, BNB is the native digital asset of the BNB Chain, which is now described as a \u201ccommunity-driven and decentralized blockchain ecosystem for Web3 decentralized applications.\u201d<\/p>\n

BNB was launched by Binance in July 2017<\/a> as an ERC-20 token<\/a> on the Ethereum blockchain as a tool to incentivize users to trade on their platform and pay for fees at a discounted rate.<\/p>\n

\"Delaware,
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Five top crypto assets by market capitalization. Source: CoinGecko<\/em><\/p>\n<\/figcaption><\/figure>\n

At the time of writing, BNB is the fifth-largest cryptocurrency asset by market capitalization, worth about $88 billion, according<\/a> to CoinGecko.<\/p>\n

Altcoin filings surge with Trump administration<\/h2>\n

VanEck\u2019s BNB ETF trust filing is just one of many new US altcoin ETF filings and registrations that have followed Donald Trump\u2019s presidential inauguration<\/a> in January.<\/p>\n

In early March, VanEck registered a similar Delaware trust<\/a> for an ETF tracking the price of Avalanche (AVAX<\/a>), also becoming one of the first companies to register such a trust.<\/p>\n