VanEck seeks to launch the first US BNB ETF amid DeFi momentum

VanEck is pushing to launch the first US-based spot exchange-traded fund (ETF) tracking the BNB token.

On March 31, the asset manager registered a legal entity named VanEck BNB ETF with the Delaware Division of Corporations, marking the first formal move in what could become a full ETF application submitted to the US Securities and Exchange Commission (SEC).

The filing, listed under entity number 10148820, positions VanEck as a frontrunner in bringing BNB-based financial products to American investors.

If approved, the ETF would hold and mirror BNB’s market performance. According to CryptoSlate data, BNB trades around $602 and has approximately $86 billion market capitalization.

Meanwhile, VanEck’s move follows a wave of interest in altcoin ETFs, with several firms filing for funds tied to tokens like Solana and XRP.

The surge comes after the successful rollout of spot Bitcoin ETFs, which reignited investor demand for regulated crypto exposure.

Under the current regulatory climate, investment managers are more confident in pursuing similar products tied to other leading digital assets.

BNB Chain momentum

Meanwhile, the timing of the ETF proposal aligns with renewed momentum on BNB Chain, the blockchain ecosystem behind the BNB token.

Data from DeFiLlama shows that BNB Chain had consistently surpassed Ethereum and Solana in decentralized exchange (DEX) trading volume during the past month. The data shows that platforms like PancakeSwap and the memecoin launchpad Four.meme have contributed significantly to this spike in activity.

The network has also rolled out major incentive programs, including a $100 million liquidity initiative to encourage listings on centralized exchanges. These efforts have attracted more developers and projects to the ecosystem.

Adding to the buzz, Binance founder and former CEO Changpeng Zhao has consistently engaged with the BNB Chain community by interacting with meme tokens and publicly highlighting the network’s strengths.

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