VanEck’s Bold Move: Filing for a Binance Coin (BNB) ETF in the U.S. to Mirror Bitcoin and Ethereum Success
In a significant development for the cryptocurrency market, VanEck has taken a bold step by filing for a Binance Coin (BNB) exchange-traded fund (ETF) in the United States. This move mirrors the success of its earlier Bitcoin and Ethereum ETF offerings and highlights the growing institutional interest in digital assets. The filing, submitted on March 31, outlines a unique strategy of staking BNB holdings to generate yield, setting it apart from existing products like Europe’s 21Shares BNB ETP. This article delves into the details of VanEck’s latest foray into the crypto space and what it means for the future of digital asset investments.
VanEck Files for BNB ETF in U.S., Mirroring Bitcoin and Ethereum Success
VanEck has submitted an S-1 registration statement to the SEC for a Binance Coin (BNB) exchange-traded fund, marking its latest foray into cryptocurrency investment products. The filing, dated March 31, outlines plans to stake BNB holdings for yield generation—a strategy previously deployed in its Bitcoin and Ethereum ETF offerings.
The proposed fund would differentiate itself from Europe’s 21Shares BNB ETP by targeting U.S. investors specifically. Approval could provide institutional-grade exposure to BNB through regulated channels, potentially influencing the asset’s market liquidity and price discovery mechanisms.
Tower Research Capital Expands Crypto Market-Making Efforts Amid Market Recovery
Tower Research Capital, one of three "VIP" clients implicated in the 2023 CFTC lawsuit against Binance, is significantly scaling its crypto market-making operations. The firm has increased capital allocation to its crypto trading book and upgraded infrastructure to bolster its presence on global exchanges.
Limestone Trading now spearheads Tower’s digital asset market-making strategy, handling arbitrage and spread trading across major platforms. This move signals growing institutional confidence as markets rebound.
