VanEck files for a spot BNB ETF, days after its CEO met Changpeng Zhao, the founder of Binance. There are regulatory challenges ahead, but confidence is high. BNBUSDT prices are firm, is the coin heading to $1,000?
BNB has been a laggard among the top five cryptos, missing out on trending events. Whether it’s meme coins, NFTs, or tokenization, the BNB Chain trails Polygon, Ethereum, and Solana. The modern chain is boosted by Pump. fun–a launchpad behind some of the best Solana meme coins.
This may be due to regulatory challenges and the reputational damage caused by Gary Gensler and U.S. agencies cracking down on Binance, accusing the exchange of violating securities laws. Changpeng Zhao, the founder, was forced to step down and sentenced to four months in prison. Binance also paid over $4 billion in fines to settle the case.
DISCOVER: 20+ Next Crypto to Explode in 2025
VanEck Files for the First Spot BNB ETF in the United States
Four months after Donald Trump secured his second term, Binance is back in the spotlight.
On May 5, 2025, VanEck, a digital asset manager, filed for the first spot BNB ETF with the U.S. SEC, the same agency that penalized its CEO.
The impact was immediate: BNB reversed its May 4 losses, outperforming Bitcoin and Ethereum in 24 hours.
(BNBUSDT)
Crucially for traders, it appears poised to solidify its position above $600.
According to reports, VanEck, which already offers spot Bitcoin and Ethereum ETFs in the U.S., submitted an S-1 form to the SEC.
VanEck just filed for a spot BNB ETF pic.twitter.com/yOanuNMyjp
— Eric Balchunas (@EricBalchunas) May 5, 2025
This critical regulatory document outlines the ETF’s structure.
If approved, the spot BNB ETF would be offered to institutional clients in the U.S. The product was registered in Delaware on March 31, 2025.
Currently, there are no details on whether staking will be included, allowing VanEck to stake the underlying asset and earn yield. This feature is notably absent in the current U.S. spot Ethereum ETF, possibly explaining its lackluster performance.
Unless the SEC permits staking for Ethereum ETF issuers, it’s unlikely BNB will be treated differently.
Interestingly, VanEck filed the S-1 form just days after its CEO, Jan van Eck, met Changpeng Zhao at the TOKEN2049 crypto conference in Dubai.
“We are advising many countries (except in Europe) on how to set up a crypto reserve like in the US. Europe isn’t part of the discussion, it’s missing on the map ” – CZ on strategic reserve progress around world (of which he consults on) pic.twitter.com/IQAlxKj3md
— Eric Balchunas (@EricBalchunas) April 30, 2025
The timing has sparked speculation about potential agreements or mutual confidence in their projects.
Will BNBUSDT Spike to $1,000?
The approval process could take months or even years. However, if the SEC greenlights the ETF, backed directly by BNB, it would enable institutions to gain exposure to the coin legally.
In turn, the development could provide a strong foundation for BNBUSDT to surge past its 2024 highs, even spiking to $1,000.
On X, one analyst thinks the coin could surge to over $1,100.
$BNB long term targets
Looks like it’s breaking out of this trendline pic.twitter.com/ESUD2qGmHM
— TraderSZ (@trader1sz) May 5, 2025
Nonetheless, regulatory challenges remain. The SEC previously claimed that BNB and some other best cryptos to consider buying, like ADA and MANA, were unregistered securities.
Although these claims were later withdrawn, the SEC has not publicly classified BNB or Ethereum as commodities. As such, the lack of clarity could pose a roadblock, as regulatory certainty would ease the path to fast approval.
DISCOVER: 16 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions & Analysis
VanEck Files Spot BNB ETF After Binance CEO Meeting: Will BNB Hit $1,000?
- VanEck files an S-1 form with the SEC for the first U.S. spot BNB ETF
- VanEck currently issues spot Ethereum and Bitcoin ETFs
- Binance founder and VanEck CEO met in Dubai during TOKEN2049
- Will BNBUSDT extend gains and rally to $1,000?
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
