CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-05-05 11:42:40

VanEck files for Binance Coin ETF with plans for staking

VanEck has unveiled an ETF that would hold BNB tokens, with the potential for staking rewards pending regulatory approval. American investment manager VanEck filed for an exchange-traded fund on Sunday, May 2, that will track the price of Binance Coin ( BNB ), as asset managers look to tap into rising interest in altcoins. The so-called VanEck BNB ETF is stilling pending regulatory approval with the U.S. Securities and Exchange Commission to list its shares on a stock exchange with its ticker symbol yet to be disclosed. According to the filing , the trust’s primary goal is to reflect the price performance of BNB, minus the Trust’s operating expenses. The ETF will hold BNB tokens and base its share valuation on an index calculated by MarketVector Indexes GmbH. You might also like: BNB Chain posts strong Q1 performance despite 15% market cap dip: Messari The trust’s structure includes provisions for staking rewards, though approval is still pending. The filing states that, in the future, if the exchange receives the necessary regulatory approval to allow any portion of the trust’s BNB to be used for staking, the trust would receive certain staking rewards of BNB, which may be treated as income. BNB’s price saw little movement following the announcement. As of press time, it was trading at $592, down 0.4% on the day and still 25% below its record high from December 2024. Still, interest in BNB may be holding up. As crypto.news reported earlier, BNB Chain’s active addresses rose 13% over the past week to around 5.2 million — potentially more than double Ethereum’s 2 million — while its staking yield is said to have climbed to 6.2%, according to data from StakingRewards. Read more: BNB Chain’s announces upgrade to $100m incentive program

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.