Get ready, folks! Osprey Funds is shaking things up with a brand-new launch: the BNB Chain Trust. This U.S.-based crypto investment powerhouse has just rolled out this exciting fund on the OTCQX® Best Market, and it's making waves!
Here's the scoop: this is the first fund in the United States that gives investors a chance to dive into BNB, the native token of the BNB Chain ecosystem. Imagine getting a piece of the crypto pie through your regular brokerage or IRA accounts. Sounds cool, right?
In their latest announcement, Osprey was all about showcasing how BNB powers a variety of decentralized apps, DeFi protocols, and smart contracts. While BNB might be playing hard-to-get on U.S. centralized exchanges, Osprey's new fund is here to save the day, offering investors a way to get in on the action using good ol' USD.
Greg King, the big boss at Osprey, chimed in with some inspiring words. He said, “At Osprey, we’re all about bridging traditional finance with the digital world, giving folks a ticket to join the blockchain revolution. Launching the Osprey BNB Chain Trust is just our way of saying, ‘Hey, come check out these top-tier crypto assets with us!’”
Previously, the Osprey BNB Chain Trust was like an exclusive club, open only through private placements. But now, it’s on the big stage with the OTCQX market, inviting everyone to join the party.
Even Binance's co-founder and former CEO, Changpeng “CZ” Zhao, couldn't help but tweet his excitement. He said, “$OBNB. The first publicly-quoted U.S. $BNB fund! I didn't have a hand in this; I only heard about it recently. Go team!”
BNB is no small fry in the crypto world. As of now, it’s the fifth-largest cryptocurrency by market cap. It hit a record high in early December, soaring past $780, although it's cooled down a bit to around $702. But get this: BNB is still up a whopping 182% over the past year!
Despite this roller coaster of a price ride, BNB Chain did face some turbulence in November with a spike in sandwich attacks. These sneaky maneuvers, using MEV tricks like front-running, took advantage of the transparency on decentralized exchanges, affecting over 43,400 traders. But hey, that’s crypto for you – never a dull moment!
