VanEck Files to Launch First BNB ETF in the U.S.

VanEck has submitted an S-1 document to the SEC for a BNB ETF, marking the first such filing in the U.S. The ETF will track Binance's blockchain through its native token, BNB, launched in 2017.

Key details include:

Investors could earn staking rewards and additional tokens if approved.
The previous SEC chair had a negative stance on staking features, impacting several other ETFs.
New SEC chair Paul Atkins may be more favorable towards approving staking in future products.
Grayscale and Canary Capital have also filed proposals for ETFs with staking capabilities.
No decision has been made on these applications, causing delays in deadlines for crypto ETFs.

VanEck must follow up with a 19b-4 document to formalize its application. As of now, BNB has a market cap of $83.9 billion and is trading at $596, reflecting a 0.27% increase in the last 24 hours.