VanEck has filed with the U.S. Securities and Exchange Commission (SEC) to launch a BNB ETF, marking the first initiative to offer a spot BNB ETF in the U.S. This filing allows investors to gain exposure to Binance Coin (BNB) without holding the asset directly. The registration statement, filed on May 2, aligns with a growing trend where various asset managers are seeking regulatory approval for digital asset-based funds in response to surging investor demand for cryptocurrency products. As of now, BNB is trading at $599, reflecting nearly a 2% increase in the past 24 hours. The filing follows a broader market shift towards alternative cryptocurrencies, with prior discussions highlighting strong investor interest in diverse altcoin-focused ETFs. Notably, VanEck is currently the only firm to propose a spot BNB ETF in the U.S., while 21Shares manages a BNB-based investment vehicle in Europe since 2019. VanEck’s move indicates an expanding acceptance of cryptocurrency investments among traditional asset managers amidst evolving regulations in the U.S.

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