Osprey Funds Launches First US Publicly Listed BNB Trust

Osprey Funds, LLC, a US-based crypto investment firm, has announced that the Osprey BNB Chain Trust is publicly traded on the OTCQX® Best Market.

Interestingly, the fund is the first in the United States to offer exposure to BNB, the native token of the BNB chain ecosystem. It aims to provide a way for investors to access cryptocurrency through traditional brokerage accounts and IRAs.

BNB gains US accessibility

In its official press release this week, Osprey highlighted that BNB underpins various decentralized applications, DeFi protocols and smart contracts, and while it is not available on centralized exchanges in the US, the latest fund would provide a means for investors to gain exposure through USD. .

Following the development, Osprey Fund CEO Greg King commented:

“At Osprey, we are committed to bridging the gap between traditional finance and digital assets, providing investment solutions for those looking to participate in the generational transformation enabled by blockchain technology. The launch of the Osprey BNB Chain Trust underscores our focus on providing access to top-tier crypto assets.

Previously offered through a private placement, the Osprey BNB Chain Trust is now accessible to a wider audience through the OTCQX marketplace.

Confirming the news, Binance co-founder and former CEO Changpeng “CZ” Zhao also tweeted:

“$OBNB. The first publicly traded US BNB fund! This was done without my involvement. I only found out about it a couple of days ago. Strong community!”

BNB ecosystem so far

At the time of writing, BNB is the fifth largest crypto asset by market capitalization. It hit an all-time high above $780 in the first week of December amid a rally in the broader market. Since then, the price has undergone a minor correction and is currently near $702. BNB still rose over 182% over the past year.

Despite this bullish momentum in terms of prices, BNB Chain faced an increase in sandwich attacks in November, with a record 35.5% of its blocks affected. These attacks, which involved MEV techniques such as front-running, took advantage of the transparency of the chain’s decentralized exchange (DEX), affecting 43,400 merchants.

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