Vaneck aims to launch the first American ETF following BNB, the token used on the network operated by Binance, the crypto exchange operator who pleaded guilty to money laundering and other accusations.
Vaneck, based in New York, which manages $ 78 billion out of 69 ETF, deposited with the dry on May 2 to issue the Vaneck BNB ETF. The company manages a pair of FNB Crypto Spot, the $ 1.4 billion Vaneck Bitcoin Etf (Hodl) and $ 82.4 million Vaneck ETF ETF (ETHV).
The file comes in the middle of a burst of so-called ETF Alt-Coin requests which flooded the securities and trade commission since President Donald Trump was sworn in with the promise to take a more permissive position towards cryptocurrencies. More than 70 requests were submitted to the dry, said Bloomberg ETF analyst Eric Balchunas, covering tokens ranging from XRP to Hbar to Sol.
BNB, the fifth largest cryptocurrency with a market capitalization of $ 84.4 billion, has fluctuated madly in the past year and is currently up 1.7% for this period, according to CoinmarketCap data.
The digital currency link with Binance, the largest exchange of cryptocurrency in the world, is a risk for investors, according to the file, due to the 2023 regulations with the American authorities on money laundering and other accusations. The founder Changpeng Zhao, known as CZ, spent four months in prison last year.
BNB was launched in 2017 thanks to a so-called initial offering of parts. 21Shares negotiates an ETF BNB in ​​Europe.
Vaneck may have chosen to deposit to create the fund after Zhao declared in an interview that he advised governments on the creation of Crypto reserves which include BNB, wrote Balchunas in a post X.
“This is perhaps what caught Attn of Jan Vaneck and acted on it,” he wrote on X, adding that the deposit was widely criticized because “cryptography on cryptographic crime is not a joke.”
Vaneck’s largest ETF is the $ 19.9 billion Vaneck Semiconductor ETF (SMH).
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