Linked to Binance, the world’s largest exchange, BNB cryptocurrency could make a historic leap into traditional markets.
Vaneck Investment Manager placed a suggestion on the table that if completed, it would mark a milestone. This is the creation From the first bottom (ETF) based on BNB.
but, The path to approval is not simpleand the final decision falls under the U.S. Stock Exchange and the Securities Commission (SEC).
Vanek takes the first step
The New York-based company registered on March 31st. Include this ETF before the corporate division of Delaware’s DE division.
This process is preliminary, but it points out Vanek prepares the land for formal requests before the SECpossibly by presenting the S-1 form.
The company is not new in this area. He already left the mark as one of Bitcoin’s first ETF emitters (BTC) and Ether (ETH) and US Ethereum cryptocurrencies were approved in January and July 2024, respectively.
Additionally, Vaneck also requested ETF records backed by Solana (Sun) and Avalanche (Avax) Cryptocurrencies. This demonstrates our commitment to diversifying financial product offerings based on digital assets.
for that, The SEC is facing the task of evaluating this request. An approval or rejection determines whether BNB will be the first cryptocurrency in having an ETF in the US market, except for BTC and ETH.
BNB: More than exchange cryptocurrency
BNB is not an asset. Born as a native cryptocurrency, this use transcends operations within exchange.
It is cryptoactive to promote BNB chains, a network developed by distributed applications (DAPP) and binance focused on enforcing intelligent contract execution.
However, his history with the SEC was not perfect. The agency has launched a lawsuit against Binance to sell this and other digital assets in 2024, classifying it as an unregistered title and not complying with the corresponding regulations.
Despite this precedent, the judicial landscape took a break. On February 11th, Binance and the SEC temporarily agreed to suspend current demand. At the end of this period, it will continue until April 14th, 2025. The parties must submit a joint report to determine the course of the case.
The agreement coincides with the creation of a working group on cryptocurrency promoted under the control of Donald Trump, which could affect the future of BNB and other digital assets.
A market that closely observes
Vanek’s proposal has progressed, but BNB prices have not shown any significant moves. In the last few hours, cryptocurrency recorded a 1.64% drop, cited at $601. The following graphics let you see the performance of last year’s cryptocurrency..
Still, its position in the market remains strong. With a $850 million capitalization, BNB remains the fifth largest cryptocurrency, surpassing Solana.
For now, investors seem to be adopting a cautious attitude, awaiting a clear signal from the SEC.
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