BNB, Will It Be Incorporated Into National Reserves?… Proposal Of VanEck's 'Proactive Response' Raised Following Changpeng Zhao's Remarks
Former Binance CEO Zhao Changpeng (Source: Coinpedia)
Former Binance CEO Zhao Changpeng recently revealed in a speech that he is advising several countries on cryptocurrency reserve management plans, sparking investor interest in the possibility of Binance Coin (BNB) being included in the reserves of sovereign states. Bloomberg's Chief ETF Analyst Eric Balchunas noted, “Considerable criticism followed when the U.S. asset management firm VanEck announced the previous day that they had submitted an application to the U.S. Securities and Exchange Commission (SEC) for launching a BNB ETF. However, for those who heard Zhao Changpeng’s speech last week, it is possible that VanEck is taking action in anticipation of BNB being included in national cryptocurrency reserves. Although it's only speculation at this point, it is not an illogical story,” he pointed out.
There are mixed opinions in the market about the possibility of certain altcoins being incorporated into central bank reserves beyond Bitcoin. Although Bitcoin's liquidity and proven market size have set a precedent, some point out that BNB carries greater regulatory and governance risks due to its uniqueness as the central token of the Binance ecosystem. Nevertheless, as large asset management firms execute a factual ‘policy bet’ through the ETF application, investors are beginning to calculate the impact of potential national adoption on BNB's price.
For now, the specific counterpart countries or the timing of reserve inclusion by Zhao Changpeng remains shrouded in mystery. However, if VanEck's move, including the ETF application, materializes, BNB could become the second major cryptocurrency to achieve public status after Bitcoin. Whether the reserve adoption rumor will become a reality, or remain just a simple market rumor, will likely be determined by the actions of the monetary and fiscal authorities of various countries.