VanEck Takes Step Towards BNB ETF Launch in the U.S.
VanEck, a US-based asset management firm, has taken a significant step towards launching a potential exchange-traded fund (ETF) for Binance‘s BNB in the United States. According to Delaware’s official registration portal, a trust named “VanEck BNB ETF” was officially established on March 31. The establishment of such a trust typically corresponds to an initial phase in the ETF application process. If the process continues as expected, the first ETF tied to BNB is anticipated to enter the market in the U.S.
Delaware Records Indicate ETF Potential for BNB
Information published by the Delaware Division of Corporations reveals that the entity named “VanEck BNB ETF” has officially begun operations as of March 31. This move by the company serves as a preparatory measure ahead of a potential application to the U.S. Securities and Exchange Commission (SEC). While no official ETF application has been submitted yet, the registration process has already drawn investors’ interest towards BNB.
VanEck Altcoin BNB ETF
It is known that VanEck has executed similar processes in the past. The firm had filed an S-1 application for an Avalanche ETF on March 14. Just a week prior, it had registered a trust related to the Avalanche ETF in Delaware. Additionally, a spot Solana 
$ 126 ETF application made in June last year was officially accepted by the SEC in February 2024.
US Could See Its First BNB ETF
If VanEck’s application is approved by the SEC, it will mark the first BNB ETF in the United States. BNB stands out as the fourth-largest cryptocurrency by market capitalization and the third-largest altcoin. Currently, 21Shares, operating in Europe, offers the “21Shares Binance BNB ETP,” which trades on multiple exchanges in Europe.
However, it is crucial to remember that regulatory processes in the U.S. tend to be more complex. In the past, fraudulent ETF registrations have raised concerns. In November 2023, an individual falsely registered a trust named “iShares XRP Trust” on behalf of BlackRock, which was quickly debunked. Therefore, both investors and the media expect direct confirmation from VanEck regarding this development.
While ETF rumors excite altcoin investors, BNB’s price has dropped by 1.51% over the past 24 hours. The altcoin is currently trading at $599.78. Even though investors are optimistic about the ETF possibility, no significant directional impact on price movements has yet been observed. Given that ETF applications and the SEC approval process can be time-consuming, any potential effects on BNB’s price are expected to unfold over a longer timeframe. Nonetheless, VanEck’s initiative indicates a growing interest from major investors in altcoins.