Asset manager VanEck has submitted a filing to US regulators to list an exchange-traded fund (ETF) holding BNB, the native token of Binance’s BNB Chain. This marks the first attempt by an asset manager to introduce a BNB ETF in the United States. The ETF aims to accumulate spot BNB tokens and may stake a portion of these tokens, according to the application’s S-1 prospectus. As of May 5, BNB has a market capitalization of around $84 billion, and current stakers earn an approximate yield of 2.5%. VanEck’s proposal comes shortly after comments from Binance co-founder Changpeng “CZ” Zhao, who indicated that the success of Bitcoin ETFs could eventually influence the popularity of altcoin ETFs. The filing adds to a growing list of recent ETF proposals targeting altcoins, which includes plans for ETFs holding other cryptocurrencies like Solana and Avalanche. In total, the US Securities and Exchange Commission (SEC) has acknowledged numerous crypto ETF proposals since January 2024, indicating a broader interest in cryptocurrency investment vehicles.

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