VanEck has recently filed an application with the Securities and Exchange Commission (SEC) to introduce the first BNB exchange-traded fund (ETF) in the U.S. This proposed ETF, if approved, would offer investors the chance to engage with Binance's blockchain through its native token, BNB. Notably, the fund might include staking rewards, adding another layer of potential income for investors.
The application comes at a time when the SEC's stance on staking remains uncertain, though the new leadership under Chair Paul Atkins might show more openness toward such features compared to the former Chair Gary Gensler. This potential change in regulatory attitude is also evidenced by Grayscale and Canary Capital's recent movements to incorporate staking into their respective Ethereum and Tron ETFs.
The proposal is currently pending SEC review, delaying several ETF decisions in the crypto space. VanEck will need to submit a 19b-4 form to prompt the SEC to set a decision deadline. BNB, the cryptocurrency central to this proposal, holds a market capitalization of $83.9 billion and trades at around $596, making it the fifth-largest cryptocurrency globally.
The application comes at a time when the SEC's stance on staking remains uncertain, though the new leadership under Chair Paul Atkins might show more openness toward such features compared to the former Chair Gary Gensler. This potential change in regulatory attitude is also evidenced by Grayscale and Canary Capital's recent movements to incorporate staking into their respective Ethereum and Tron ETFs.
The proposal is currently pending SEC review, delaying several ETF decisions in the crypto space. VanEck will need to submit a 19b-4 form to prompt the SEC to set a decision deadline. BNB, the cryptocurrency central to this proposal, holds a market capitalization of $83.9 billion and trades at around $596, making it the fifth-largest cryptocurrency globally.
