Vaneck insists on launching the first American spot exchange-related fund (ETF) that follows the BNB token.
On March 31, the asset manager registered Called a legal entity Vaneck BNB ETF With the Delaware division of companies, marking the first formal movement in what could be a complete ETF application that has been submitted to the US Securities and Exchange Commission (SEC).
The submission, stated under Entity Number 10148820, positions Vaneck as the leader in bringing BNB-based financial products to American investors.
If approved, the ETF would hold and mirror the market performance of BNB. According to CryptoSlate Data, BNB trades around $ 602 and has around $ 86 billion market capitalization.
In the meantime, Vaneck’s movement is following a wave of interest in Altcoin ETFs, where various companies submit money, bound to tokens such as Solana and XRP.
The increase comes after the successful rollout of Spot Bitcoin ETFs, who revived the demand for investors for regulated crypto -exposure.
Under the current regulatory climate, investment managers have more confidence in the pursuit of similar products that are linked to other leading digital assets.
Bnb chain momentum
In the meantime, the timing of the ETF proposal closes with a renewed momentum on the BNB chain, the blockchain eco system behind the BNB -Token.
Data from Defillama shows that BNB chain had consistently exceeded Ethereum and Solana in the decentralized Exchange (DEX) trade volume in the past month. The data shows that platforms such as Pancakeswap and the Memecoin Launchpad Four.Meme have contributed considerably to this peak in activity.
The network has also rolled out major stimulation programs, including a $ 100 million liquidity initiative to encourage lists of centralized trade fairs. Have these efforts attracted More developers and projects for the ecosystem.
Add to the Buzz, Binance founder and former CEO Changpeng Zhao have consistently involved in the BNB chain community by interacting interaction with Meme -Tokens and publicly emphasizing the strengths of the network.
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