VanEck BNB ETF Adds Staking, BNB Price Soars
The VanEck BNB ETF has added staking as a secondary objective to its investment strategy. The fund will stake most of its Binance Coin (BNB) holdings while keeping a reserve for redemptions.
The addition follows the fund's second custody agreement with BitGo Bank & Trust, with Figment named as the validator for the staking activity.
BNB price has gained nearly 15% in the past month and more than 42% since the ETF launched. The token is currently trading near $782 on the weekly chart.