Vaneck plans to expand the scope of US cryptocurrencies with a planned stock exchange traded fund focused on Binance Coin (BNB), a natural asset of the BNB-chain.
The company submitted a Form S-1 US Securities and Stock Exchange Committee (Sec) on May 2, applying for approval for Vaneck BNB ETF. If it is approved, it would be the first US-listed fund that offers direct contact with the BNB-Ga-Cryptocurrency, which has its roots back to the leading cryptocurrency exchange binance.
Bloomberg ETF analyst Eric Balchunas noted:
An interesting timing with Token2049 just a few days ago, where CZ spoke and Jan van Eck participated, is not sure if the connection was, but CZ was really impressive, I have to say.
The ETF is structured to monitor the BNB market price through direct symbolic stake, allowing investors to access property without the use of cryptocurrencies or managing wallets.
The application also states that the fund may include a stage function that is subject to regulatory and listing confirmation. The ETF would be implemented to earn passive bonuses on BNB through third-party providers, potentially involving Vaneck affiliates.
Based on the current rate AnkrThese passive benefits can float about 0.92% per year while writing. This would mark the innovative addition to the US ETF market-summary-has been limited to overseas funds or crypto-native platforms.
Vaneck's push for BNB ETF
BNB is a sign of a utility that incites transactions and a smart contract on the BNB chain, which is a blockchain platform (DAPP) used for decentralized applications.
It also plays a role in the symbolic launch and decentralized trading in the Binantse ecosystem. As the current price floats near $ 600 and a multi -billion dollar market capitalization, BNB is the fifth largest cryptocurrency at the time of writing.
Binance triggered the sign through the original coin offer (ICO) as he tried to finance his market. Those who participated in ICO in 2017 have done well, the price rises from about $ 0.1 until now $ 600. Those interested in the BNB price forecast will see our special article here.
The ETF's presentation continues to the Vaneck impetus to be the primary movement in the US crypto investment space. The company previously launched Spot Bitcoin and Ethereum ETF after heavily win SEC confirmations and recently applied for the first AAF ETF in the country.
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