By Shikha Singh
VanEck Files for First-Ever Binance Coin BNB ETF in the US
VanEck is making its move toward a Binance Coin (BNB) ETF in the U.S. The firm just registered a trust entity in Delaware for the VanEck BNB ETF—an essential first step before it officially takes things to the SEC.
This filing, made on March 31, positions BNB alongside Bitcoin, Ether, Solana, and Avalanche, the cryptocurrencies for which VanEck has initiated standalone ETF registrations in Delaware.
BNB-related products like the 21Shares Binance BNB ETP have been available in global markets, but a U.S.-based BNB ETF has yet to exist—until now.
BlackRock Enters The UK Crypto Market with FCA Registration
BlackRock, the $10 trillion asset management giant, just got the FCA’s approval to operate as a crypto asset firm in the UK. This puts it in the same league as Coinbase, PayPal, and Revolut in the country’s regulated crypto market.
Now that it’s registered, BlackRock can run its European Bitcoin exchange-traded product (ETP) under a UK entity, further expanding into crypto. But the FCA isn’t making things simple—it’s been tightening regulations and turning away firms that don’t meet its strict standards.
BlackRock, however, made the cut. BlackRock’s successful registration highlights its commitment to following regulations and meeting the authority’s high standards.
USDC Issuer Circle Files for $5bn IPO to List on NYSE
Circle, the company behind USDC, has officially filed for an IPO, aiming to list on the New York Stock Exchange under the ticker symbol CRCL. The company is targeting a valuation of up to $5 billion, with JPMorgan Chase and Citigroup acting as lead underwriters.
This is Circle’s second attempt to go public after the firm failed to merge with a special purpose acquisition company (SPAC) in 2022 due to regulatory issues.
The revenue of Circle in the year 2024 was $1.68 billion, which is higher than the previous years. Its net income, however, was $156 million, a decline from $268 million in the prior year, 2023.
SEC and Gemini Seek 60-Day Pause in Crypto Lending Case
The US Securities and Exchange Commission (SEC) and crypto exchange Gemini have requested a pause in the ongoing legal battle over Gemini’s Earn program.
In a letter sent on April 1 to Judge Edgardo Ramos of the New York federal court, the SEC and Genesis Global Capital, involved in the case, asked for a 60-day hold on the proceedings.
The SEC first sued Gemini and Genesis in January 2023 for selling securities without registering them through the Gemini Earn program.
However, the case against Gemini is still pending while Genesis paid the charges in full in the amount of $21 million in March 2024.
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