- Osprey BNB Chain Trust ($OBNB) is the first publicly-quoted U.S. fund offering exposure to Binance’s native token, BNB.
- $OBNB allows U.S. investors to add Binance Coin to IRAs or Roth IRAs, bridging crypto and traditional finance.
- Changpeng Zhao praised $OBNB as a community-driven milestone, emphasizing that he had no direct involvement in its launch.
Osprey Funds has officially launched the Osprey BNB Chain Trust, now publicly quoted on OTC Markets under the ticker $OBNB. This is the first U.S. publicly-quoted fund offering exposure to BNB, the native token of the BNB Chain. Investors in the U.S. can now access BNB through traditional brokerage and IRA accounts, filling a gap due to BNB’s unavailability on centralized exchanges in the U.S.
A Crucial Offering for BNB Investors
BNB supports decentralized applications, DeFi protocols, and smart contracts. Despite its prominence, access to BNB has been limited for U.S. investors. The Osprey BNB Chain Trust addresses this limitation, offering an efficient way to gain exposure to BNB without requiring specialized crypto wallets or keys.
Previously available only through private placement, the Trust is now accessible through the OTCQX market, enabling easier investment options for individuals and institutions. This product also allows investors to include Binance Coin in IRAs or Roth IRAs, making it the first of its kind in the U.S.
CEO Highlights Focus
Greg King, CEO of Osprey Funds, emphasized the company’s commitment to connecting traditional finance and digital assets. He noted that the launch of $OBNB shows their focus on providing access to premier crypto assets. This complements Osprey’s earlier initiatives, such as the Osprey Solana Trust ($OSOL), which simplifies access to Solana through brokerage and retirement accounts.
Strong Community Support
Changpeng Zhao (CZ), Binance’s former CEO, praised the launch on X, calling it a community-driven achievement. He clarified that he had no involvement in its launch, further adding to the independent achievement.
Osprey Funds has continued to expand its offerings in digital assets. Earlier this year, it launched the Osprey Solana Trust ($OSOL) and is exploring new products like the Bonk Trust. These efforts align with Osprey’s ongoing mission to provide innovative ways for U.S. investors to engage with leading cryptocurrencies.
