BNB’s price has climbed 42%—could this lead to a new all-time high following the VanEck ETF application?

VanEck, a worldwide investment management company, has officially registered a statutory trust in Delaware for the Binance BNB ETF. This news has generated significant excitement within the community, resulting in a 2160% increase in BNB’s trading volume as it traded at $1.813. On March 21, VanEck submitted a filing to create a Binance Coin (BNB) exchange-traded fund (ETF), named “VanEck BNB ETF,” under filing number 220.95. The registration has been formally documented on Delaware’s state website, signifying the initial effort to introduce a BNB ETF in the U.S. market. This action comes after a report by CNF, which revealed that VanEck submitted an S-26.90 registration statement to the Securities and Exchange Commission (SEC) to establish an Avalanche (AVAX)-based ETF, with a decision anticipated by November 2025. VanEck’s pursuit of a BNB ETF is a step towards broadening its cryptocurrency investment portfolio, which currently consists of ETFs for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). This move underscores VanEck’s dedication to the expanding market for digital assets. After the ETF application, there was a notable increase in market activity for BNB. The trading volume surged by 42%, hitting $2.19 billion. BNB is presently ranked as the fifth-largest cryptocurrency, with a market capitalization of $87.1 billion. Currently, BNB is priced at approximately $605, which indicates a 5.20% drop over the last week. Due to this decline, BNB is currently 20.953% lower than its peak of $793.35, achieved in December 2024. In order for BNB to return to its record high, it needs to form a cup-and-handle pattern at $662, which is a recognized bullish formation that indicates a possible upward breakout.