REX-Osprey Files for Second-Ever BNB Staking ETF, Helps in BNB’s 3% Rebound

Binance coin (BNB) price has formed a similar fractal pattern to the 2021 bull rally breakout. The Rex filing for a BNB Staking ETF is the second similar application after VanEck filed an S-1 registration statement in early May. ETF expert James Seyffart believes the Rex filing for a BNB Staking ETF could go live in early November. Binance Coin (BNB) rebounded as much as 3%, climbing from a 24-hour low of $831 to trade above $864 on Wednesday. The price jump follows the news that REX Shares and Osprey Funds have jointly filed for a BNB staking ETF, a direct reflection of how BNB’s utility and institutional backing are fueling its rally . The large-cap altcoin, with a fully diluted valuation of about $120.4 billion, surged above the 50 Moving Average Simple (SMA), in the four-hour timeframe. As a result, BNB’s Open Interest (OI) rebounded slightly to hover about $1.5 billion on Wednesday during the early Asian session, according to data aggregate from CoinGlass . What to Know About the REX-Osprey BNB staking ETF REX Shares, in partnership with Osprey Funds, submitted an S-1 application with the U.S. Securities and Exchange Commission (SEC) to launch… The post REX-Osprey Files for Second-Ever BNB Staking ETF, Helps in BNB’s 3% Rebound appeared first on Coin Edition .