Vaneck presents before the sec request for ETF BNB in ​​cash

Yes ok Vaneck and other administrators expand the framework for options for investors, maybe with BNB there are more difficulties, given the currency links with Binance and aspects such as centralization.

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• Vaneck has formally requested an ETF BNB before the Sec.
• The application comes after the participation of key executives in the event Token2049, including the CEO of Binance
• More than 70 ETF applications from Altcoins are waiting for review under the new leadership of the Sec.

The American asset manager, Vaneck, presented to the Bag and Securities Commission (SEC) Application to launch the first quoted bottom in the stock market (ETF) based on the token BNB, the native cryptocurrency of BNB Chain. This movement represents a new step in the growing race to launch regulated financial products based on Altcoins in US territory.

According to several published reports, with the presentation of the form S-1 corresponding to the SEC, Vaneck thus becomes the first firm to submit an official application for an ETF BNB In the US. While in Europe there are already similar products, such as 21Shares Binance BNB ETP that quotes in several European stock markets, the introduction of an instrument of this type in the US market would mark a remarkable milestone.

Vaneck It goes for a ETF BNB

BNB is the native token of Bnb chain, a network of Blockchain closely linked to Binance, One of the largest cryptocurrency exchanges. Platform users can obtain discounts on commissions if they pay with BNB, And it can also be used to book trips, pay merchants and other daily uses through various products and services.

The document S-1 presented by Vaneck It also indicates that units of BNB In the background they could be used to obtain staking rewards or other forms of passive income. This possibility could add additional value for institutional investors interested not only in exposure to the price of BNB, but also in the returns generated by their use in the network.

The presentation of the ETF is given in a context where the Sec, Under new direction, it is reviewing more than 70 applications related to cryptocurrency -based products. However, many of these have been delayed, reflecting the continuous caution of the regulator to digital assets.

This boom in proposals occurs at a time when the institutional interest in cryptocurrencies continues to grow. From the approval of the first ETF Bitcoin, Asset managers have directed their attention to other tokens with great capitalization and active use, such as ETH, Sol and now BNB, although recently, Vaneck introduced request for a bag quoted in the stock market based on Avax, Native Network Token Avalanche

The ETF analyst of Bloomberg, Eric Balchunas, highlighted the coincidence between this presentation and the recent conference Token2049, held a few days ago. “Interesting synchrony with Token2049 where CZ spoke and attended Jan van Eck. I’m not sure if they are connected, but CZ really impressed”he commented on his X.

Panorama somewhat more complicated

Even though the ETF BNB of Vaneck It adds to a long line of similar applications of crypto products, this experience may be more resistance to its peers.

BNB, Being a currency closely related to the exchange Binance, It could be provided for certain conflicts before the SEC, especially in the face of legal implications and in the matter of decentralization.

Already out of the above, BNB Figure as the fifth digital currency with the largest market capitalization, registering at this time about USD $ 84,239 million in circulating assets. As for its quotation, each unit of the cryptocurrency is located in a few USD $ 597 per unit, a figure that represents an increase of 1.48% in the last 24 hours.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

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