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Osprey Funds launches BNB Chain Trust with $702 price for BNB

Osprey Funds launches BNB Chain Trust with $702 price for BNB

GrafaGrafa2024/12/20 02:20
By:Mahathir Bayena

Osprey Funds has launched the Osprey BNB Chain Trust, which is now publicly quoted on the OTCQX® Best Market.

The trust offers investors a way to gain exposure to BNB (CRYPTO:BNB), the native token of the BNB Chain ecosystem.

This launch makes it the first U.S. publicly quoted fund to offer access to BNB.

Previously, BNB was unavailable on centralised exchanges in the U.S., but with the introduction of this trust, investors can now access the cryptocurrency through traditional brokerage and IRA accounts.

The BNB token underpins various decentralised applications, DeFi protocols, and smart contracts, which have contributed to its growing market relevance.

“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,” commented Greg King, CEO of Osprey Funds.

The trust was initially offered through private placement but is now accessible to a wider audience via the OTCQX market.

“$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!” tweeted Binance co-founder and former CEO, Changpeng “CZ” Zhao, confirming the launch.

At the time of reporting, the price of BNB (BNB) was $665.45.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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