Osprey Funds Launches First US Publicly Quoted BNB Trust

Osprey Funds, LLC, a U.S.-based crypto funding agency, has introduced that the Osprey BNB Chain Belief is now publicly quoted on the OTCQX® Greatest Market.

Curiously, the fund occurs to be the primary within the US to supply publicity to BNB, the native token of the BNB Chain ecosystem. It goals to supply a method for traders to entry the cryptocurrency by conventional brokerage and IRA accounts.

BNB Features US Accessibility

In its official press release this week, Osprey highlighted that BNB underpins varied decentralized functions, DeFi protocols, and good contracts, and whereas it stays unavailable on centralized exchanges within the US, the most recent fund would supply a way for traders to realize publicity utilizing USD.

Following the event, Greg King, CEO of Osprey Fund, commented,

“At Osprey, we’re dedicated to bridging the hole between conventional finance and digital belongings, providing funding options for these seeking to take part within the generational transformation enabled by blockchain know-how. The launch of the Osprey BNB Chain Belief underscores our deal with offering entry to premier crypto belongings.”

Beforehand supplied by personal placement, the Osprey BNB Chain Belief is now accessible to a broader viewers through the OTCQX market.

Confirming the information, Binance co-founder and former CEO Changpeng “CZ” Zhao additionally tweeted,

“$OBNB. The primary publicly-quoted U.S. $BNB fund! This was accomplished with no involvement from me. I solely realized about it a few days in the past. Sturdy group!”

BNB Ecosystem So Far

On the time of writing, BNB is the fifth-largest crypto asset by market cap. It reached an all-time excessive above $780 within the first week of December amid a broader market rally. The worth has since undergone minor correction and is at the moment close to $702. BNB was nonetheless up by greater than 182% over the previous yr.

Regardless of this bullish momentum on the worth entrance, BNB Chain faced a surge in sandwich assaults in November, with a report 35.5% of its blocks affected. These assaults, involving MEV methods like front-running, exploited the chain’s decentralized alternate (DEX) transparency, impacting 43,400 merchants.