Global investment management firm VanEck has officially filed for a spot BNB ETF with the SEC. BNB, popularly called Binance Coin, has not seen any positive price movement after the filing. BNB is down 0.3% in the daily charts, 2.2% in the weekly charts, 1.7% in the 14-day charts, and 0.8% over the previous month. The asset has gained only 1.2% since May 2024.

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Will The SEC Approve A BNB ETF?

The SEC recently welcomed Paul Atkins as its new head. Atkins is popular in the crypto community for his pro-Bitcoin stance. Many anticipate him to take a more lenient approach to the crypto industry, compared to outgoing SEC head Gary Gensler. There is a high probability that the SEC will greenlight VanEck’s BNB ETF filing.

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President Trump has stated that he wants the crypto industry to thrive in the US. Bitcoin (BTC) hit an all-time high on President Trump’s inauguration day, Jan. 20. While BTC has already gotten a few ETFs last year, there is a high probability that we will see multiple crypto-based ETFs this year, including BNB.

Will The Asset Hit a New All-Time High?

BTC hit a new peak after the SEC approved 11 spot BTC ETFs last year. We may see a similar pattern for Binance’s BNB token. The asset hit a peak of $788.84 in December of last year. BNB’s price has dipped by nearly 25% since its December high.

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BNB has seen incredible growth over the last few years. The crypto industry is expected to grow at an astronomical rate over the coming years. If the Federal Reserve cuts interest rates and the SEC approves a spot BNB ETF, the asset could climb to a new all-time high. If market conditions are favorable, BNB could even breach the $1000 mark.