VanEck plans to launch BNB ETF in the US, facing criticism due to risks.

From Yahoo Finance: 2025-05-06 16:40:00

VanEck plans to launch the first U.S. ETF tracking BNB, the token used on Binance’s network. The filing for the VanEck BNB ETF comes as more alt-coin ETF applications flood the SEC. BNB, the fifth-largest cryptocurrency, has a market cap of $84.4 billion and a volatile price history.

The link between BNB and Binance poses a risk to investors, given Binance’s past settlements over money laundering. BNB was launched in 2017 through an initial coin offering and is also traded in Europe. VanEck’s move to file for the fund may have been influenced by CZ’s advice to governments on crypto reserves.

VanEck, a New York-based firm managing $78 billion, has already launched spot crypto ETFs. The filing for the VanEck BNB ETF has sparked criticism due to the risks associated with crypto investments. VanEck’s largest ETF is the $19.9 billion VanEck Semiconductor ETF.

Read more: VanEck Files to Launch First US ETF Tracking Binance’s BNB