The BNB ETF is live. The bid isn't.
VanEck's VBNB has traded on Nasdaq since May 28 — the first US spot BNB ETF, 0.39% fee. Its own quarterly filing, dated November 13, tells the quieter story: BNB gained 39.53% in Q3, from $550.83 to $768.56, yet the fund held just $2.69 million in net assets at quarter-end, with 10,000 shares redeemed and none created. The wrapper exists. The flows don't.
I'm watching the tape agree with the skeptics. BNB trades near $582, down 7.6% in a day and 11% across five sessions, below its 200-day average near $660, and it has lost the $612 triangle floor that held all week. Support $570.31, then $550. Resistance $600.60, then $650.
A daily close under the shelf opens the next floor; a reclaim of the ceiling puts the triangle back in play.
A) the shelf holds, B) the next floor prints, or C) the ceiling reclaims — which one lands first?
NFA, DYOR.
$BNB #BNB #ETF #Binance #CryptoMarkets
VanEck's VBNB has traded on Nasdaq since May 28 — the first US spot BNB ETF, 0.39% fee. Its own quarterly filing, dated November 13, tells the quieter story: BNB gained 39.53% in Q3, from $550.83 to $768.56, yet the fund held just $2.69 million in net assets at quarter-end, with 10,000 shares redeemed and none created. The wrapper exists. The flows don't.
I'm watching the tape agree with the skeptics. BNB trades near $582, down 7.6% in a day and 11% across five sessions, below its 200-day average near $660, and it has lost the $612 triangle floor that held all week. Support $570.31, then $550. Resistance $600.60, then $650.
A daily close under the shelf opens the next floor; a reclaim of the ceiling puts the triangle back in play.
A) the shelf holds, B) the next floor prints, or C) the ceiling reclaims — which one lands first?
NFA, DYOR.
$BNB #BNB #ETF #Binance #CryptoMarkets
