Investment firm VanEck has filed to introduce an exchange-traded fund that will track BNB, the native cryptocurrency associated with the Binance-linked BNB Chain.
Based in New York, the company has proposed the creation of a trust in Delaware for the BNB ETF, marking an initial step towards a formal submission to the U.S. Securities and Exchange Commission (SEC).
If sanctioned, VanEck’s BNB ETF would become the first of its kind listed in the United States.
This firm was among the inaugural issuers of bitcoin (BTC) and ether (ETH) ETFs in the U.S., receiving approval in January and July 2024, respectively.
Additionally, VanEck is also set to introduce ETFs that track the native tokens of Solana (SOL) and Avalanche (AVAX).
At the moment, BNB is valued at approximately $603, showing little fluctuation since news of VanEck’s intentions emerged.