Asset managing company Vaneck has applied to the USA Safety Alternate Fee for approval of ETF associated with BNB Blockchain’s native token BNB. If it is approved, it will be the first BNB ETF of USA. Vaneck has earlier launched Bitcoin and Ethereum ETF and is now preparing for Solana and Avalanche ETF Creation.
Why is BNB ETF important?
BNB Blockchain is the official blockchain of the Crypto Exchange platform Binance, whose native token is BNB. Currently BNB Token has a market capitalization of about $ 84 billion. BNB Token Market is the fifth major cryptocurrency according to the capitalization. In this context, this ETF filed by Vaneck is an important step that will give investors a chance to invest in this crypto token without any technical problem or wallet. Before Vaneck launched Crypto Store ETF Node Was.
What is cryptocurrency alternate traded investment (ETF)
Cryptocurrency ETF is a type of investment fund that tracks the value of the currency associated with it. Like any other ETF, they can also be traded on the regular exchange. The first Cryptocurrency ETF in the USA was approved in 2024, after which many such products have come there. But so far no cryptocurrency ETF has come in Republic of India.
Performance of Cryptocurrency ETF launched so far
Bitcoin ETF was the first Cryptocurrency of USA, which was launched in January 2024. Since its launch, it has received a net inflow of about 40 billion dollars. Although the Ethereum ETF launched after this did not succeed at this level, experts believe that over time the success of Bitcoin ETF will also affect the other Altcoin. This is the reason that many ETFs linked to cryptocurrency in the USA are either live or in process. Along with this, some ETFs related to Memecoin are also waiting for SEC approval, such as Recently 21Shares applied to SEC for Spot Dogecoin ETF Was.
Conclusion
The application made by Vaneck for BNB ETF in the USA shows that the investment products associated with cryptocurrency are now becoming part of the mainstream financial system. If it gets approval, it will not only be a major achievement for BNB tokens but will also provide new options to investors in AltCoin market. The success of Bitcoin ETF and the launch of ETF for projects like BNB after Etreum ETF indicates that institutional investors in the Crypto market are also working to increase their participation, which is a positive sign for the entire Crypto Ecosystem.
Also read:US new Crypto invoice, strict digital assets rules
