Osprey Funds Launches First US Publicly Quoted BNB Trust
Osprey Funds, LLC, a U.S.-based crypto investment firm, has announced that the Osprey BNB Chain Trust is now publicly quoted on the OTCQX® Best Market.
Interestingly, the fund happens to be the first in the US to provide exposure to BNB, the native token of the BNB Chain ecosystem. It aims to offer a way for investors to access the cryptocurrency through traditional brokerage and IRA accounts.
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 remains unavailable on centralized exchanges in the US, the latest fund would provide a means for investors to gain exposure using USD.
Following the development, Greg King, CEO of Osprey Fund, commented,
At Osprey, we are committed to bridging the gap between traditional finance and digital assets, offering 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 premier crypto assets.
Previously offered through private placement, the Osprey BNB Chain Trust is now accessible to a broader audience via the OTCQX market.
Confirming the news, Binance co-founder and former CEO Changpeng CZ Zhao also tweeted,
$OBNB. The first publicly-quoted U.S. $BNB fund! This was done with no involvement from me. I only learned 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 cap. It reached an all-time high above $780 in the first week of December amid a broader market rally. The price has since undergone minor correction and is currently near $702. BNB was still up by more than 182% over the past year.
Despite this bullish momentum on the price front, BNB Chain faced a surge in sandwich attacks in November, with a record 35.5% of its blocks affected. These attacks, involving MEV techniques like front-running, exploited the chains decentralized exchange (DEX) transparency, impacting 43,400 traders.
The post Osprey Funds Launches First US Publicly Quoted BNB Trust appeared first on CryptoPotato.
Read more: https://cryptopotato.com/osprey-funds-launches-first-us-publicly-quoted-bnb-trust/
Text source: CryptoPotato
