VanEck, a $116 billion asset management firm, has filed for a spot BNB exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission, a move that could bring Binance Coin (BNB) closer to traditional financial markets.
The filing, submitted on May 2, 2025, under Form S-1, aims to track the price of BNB, the native token of the Binance ecosystem, marking a key step toward mainstream adoption of altcoins.
The filing follows the TOKEN2049 conference in Dubai, where Binance co-founder Changpeng Zhao, known as CZ, spoke on April 30 about the expanding role of cryptocurrencies in global finance. VanEck’s application builds on its successful launches of spot Bitcoin and Ethereum ETFs, reflecting a growing trend of blending digital assets with regulated markets.
BNB, the fifth-largest cryptocurrency by market capitalization, powers decentralized finance applications, payment solutions, and blockchain projects beyond its original role on the Binance exchange.
“This filing validates BNB’s growing relevance in the digital economy,” said Eric Balchunas, a senior ETF analyst at Bloomberg, who shared the news on X.
Balchunas noted the timing, suggesting CZ’s TOKEN2049 appearance alongside VanEck CEO Jan Van Eck may have influenced the filing. CZ also commented on X, saying, “VanEck just filed for a spot BNB ETF.” X users expressed excitement, with one stating, “BNB Season incoming.”
The ETF proposal includes a staking feature, allowing investors to earn additional yields, which distinguishes it from earlier crypto ETFs.
Meanwhile, Binance is broadening its global reach. On May 4, the company partnered with Kyrgyzstan’s National Agency for Investments to introduce crypto payment systems and blockchain education programs. The agreement, formalized through a memorandum of understanding, will bring Binance Pay to the region and enhance digital literacy. Kyrgyzstan’s President Sadyr Nurgozhoevich Japarov said, “Our cooperation with Binance will open new horizons for the country and the region.”
The SEC will now review VanEck’s filing, a process that includes a public comment period and may take months. Industry observers are watching closely to see if this ETF will set a precedent for other altcoins, potentially narrowing the gap between traditional finance and blockchain technology. With global regulators like Japan and the EU also refining their crypto policies, the outcome of this filing could influence the future of digital assets in mainstream investment portfolios.
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