Vaneck filed paperwork to sell shares in an exchange-traded fund (ETF) tracking of the Binance crypto exchange blockchain.
The asset manager submitted a S-1 document To the Securities and Exchange Commission (SEC) on Monday for a BNB ETF, which became the first prospective to file for such funds in the US BNB was the native token for the BNB chain, which was launched in 2017 by Binance.
Fund investors – if approved – will also get staking rewards and additional tokens as well as other revenues, according to the filing. The SEC under former chair Gary Gensler had a strong opposition to staking, which is why some ETFERUM (ETH) ETF does not include this feature.
However, there is hope that the new seat Paul Atkins is more inclined to approve the feature for future products. Grayscale, last month, filed a amended document with the SEC to allow staking at the Ethereum ETFS and Hedge Fund Canary Capital recently who filed a proposal to launch a Tron ETF with staking capabilities.
The SEC has yet to make a decision in these applications, which has delayed some deadlines for crypto ETFs in recent weeks.
Vaneck is expected to follow its initial filing with a 19B-4 document to officially officially its intent and tie the regulator to a deadline.
BNB has a market capitalization of $ 83.9 billion and trades at $ 596 at the time of publication, up to 0.27% in the last 24 hours. This is the fifth largest cryptocurrency by the market cap.
