The crypto market is entering a new phase of institutional adoption, with Binance founder Changpeng Zhao’s family office, YZi Labs, backing a new treasury company focused on BNB. In partnership with investment firm 10X Capital, the new company aims to acquire and hold BNB, with the ultimate goal of listing on a major U.S. stock exchange.
The goal is to offer traditional investors easier, regulation-friendly access to BNB, without needing to use crypto exchanges directly. This move is part of a growing trend to bring digital assets into mainstream financial markets.
The company will be led by David Namdar, co-founder of Galaxy Digital, with 10X Capital acting as the asset manager. Moreover, by offering publicly traded shares backed by BNB, the firm intends to mirror existing strategies in the crypto space, where firms like MicroStrategy and ETFs have bought large quantities of Bitcoin.
This move marks one of the first serious efforts to apply the model to exchange-tied tokens like BNB. The effort opens the door for investors who have so far had limited access to BNB due to regulatory and infrastructural limitations in the U.S. market.
Though barred from managing Binance following a plea deal with U.S. authorities, CZ remains its biggest shareholder. In February, he disclosed that 98.5% of his crypto portfolio is held in BNB. A June 2024 Forbes report estimates that Zhao holds 94 million BNB, valued at around $63 billion and accounting for over 64% of the circulating supply, with Binance controlling another 31.5%.
Meanwhile, Nasdaq-listed Nano Labs has taken a bold step by purchasing $50 million worth of BNB, roughly 74,000 tokens at ~$672 each. This move is part of a plan to accumulate up to $1 billion in BNB, targeting 10% of its total supply. Facing a slowdown in its chip manufacturing business, the company is pivoting to digital assets to fuel future growth. Following the announcement, Nano Labs’ stock doubled to $22, while BNB price saw a 2.7% uptick in price.
BNB is trading at $670, showing a 1.3% daily gain. Backed by major players and new institutional channels, BNB is growing from an exchange utility token into a more broadly recognized financial asset.
These moves show rising interest in BNB from big investors. Both BNB Treasury Company and Nano Labs aim to provide safe and regulated investment options for BNB. More public companies are now holding crypto like BNB and XRP, not just Bitcoin. Nano Labs plans to buy up to $1 billion in BNB, and others like Trident Digital and Webus are doing the same. CZ said over 30 teams are working on similar BNB-focused public firms, showing that institutional interest in BNB is growing fast.
The BNB Treasury Company, backed by YZi Labs and 10X Capital, will be a publicly traded entity that holds BNB. It aims to offer shares backed by BNB, similar to how MicroStrategy holds Bitcoin, providing traditional investors indirect exposure to BNB.
Listing on a U.S. stock exchange provides a regulated, familiar, and accessible investment vehicle for traditional investors who might otherwise face regulatory hurdles or technological barriers when buying BNB directly on crypto exchanges.
These significant purchases by the BNB Treasury Company and Nano Labs are likely to increase demand for BNB, potentially driving up its price. Their institutional backing also boosts BNB’s legitimacy, fostering wider adoption among both retail and institutional investors.
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