1 week ago
VanEck has filed paperwork to merchantability shares successful an exchange-traded money (ETF) tracking crypto speech Binance's blockchain.
The plus manager submitted an S-1 document with the Securities and Exchange Commission (SEC) connected Monday for a BNB ETF, becoming the archetypal prospective issuer to record for specified a money successful the U.S. BNB is the autochthonal token for the BNB Chain, launched successful 2017 by Binance.
Investors successful the money — if approved — would besides beryllium capable to gain staking rewards and further tokens arsenic good arsenic different income, according to the filing. The SEC nether erstwhile seat Gary Gensler had a beardown opposing stance towards staking, which is wherefore respective spot ethereum (ETH) ETFs don’t see the feature.
There is, however, anticipation that caller seat Paul Atkins volition beryllium much inclined to o.k. the diagnostic for aboriginal products. Grayscale, past month, filed an amended papers with the SEC to let staking successful its Ethereum ETFs and hedge money Canary Capital precocious filed a connection to motorboat a Tron ETF with staking capabilities.
No determination has been made yet by the SEC connected these applications, which has delayed respective deadlines for crypto ETFs successful caller weeks.
VanEck volition beryllium expected to travel its archetypal filing with a 19b-4 papers to marque its intentions authoritative and necktie the regulator to a deadline.
BNB has a marketplace capitalization of $83.9 cardinal and was trading astatine $596 astatine clip of publication, up astir 0.27% implicit the past 24 hours. It is the fifth-largest cryptocurrency by marketplace cap.
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