VanEck’s new tokenized Treasury fund “VBILL” is set to launch on Binance (BNB), providing institutional tailwinds. Can this drive BNB’s price to new all-time highs as it rebounds with a rising channel?
VanEck Launches VBILL Fund on Binance Chain
VanEck, an asset management company, announced a tokenized real-world asset (RWA) fund, VBILL, to offer exposure to short-term U.S. Treasury bills. This milestone development is in partnership with Securitize, and the VBILL will operate on Binance Smart Chain, Ethereum, Solana, and Avalanche blockchains.
The launch marks a monumental shift in TradFi towards blockchain technology with the tokenized U.S. Treasuries. Notably, the VBILL accounts for $6.9 billion of the total RWA market. Driving the blockchain narrative, Securitize previously tokenized over $3.9 billion in assets from BlackRock.
The $100,000 minimum investment barrier for the VBILL fund exposure targets High-Net-Worth Individuals (HNI) and institutions. Such individuals could fuel the capital flows to all four blockchains as a real-world use case of BNB Chain boosts its credibility in the blockchain-based capital markets.
Institutional Tailwinds to Ignite New All-Time High
BNB price trades at $648 after a 10% jump last week, forming a bullish candle. Following the 70% crash from $670 to $202 between November 2021 and October 2023, Binance coin remained an underperformer. Since the 2023 low, the altcoin has surged 270% and formed a new all-time high at $794.
The bullish trend forms a rising channel in the weekly and the previously mentioned bullish candle, suggesting a bounce back. The bull run in BNB’s price trend targets the current all-time high at $793, an upside potential of 21%.
Additionally, the weekly Relative Strength Index (RSI) line rebounds from the halfway point after a steep pullback. The MACD indicator hints at the start of a new positive histogram cycle. Hence, technical indicators support the uptrend continuation thesis within the rising channel, aligning with the Binance coin price prediction of a new all-time high in 2025.
Conversely, a breakdown under the local support trendline will nullify the bullish pattern, risking the $495 retest.
In conclusion, VanEck’s VBILL fund launch on Binance Chain is a pivotal development in institutional interest with a $6.9B tokenized U.S. Treasuries. Fueling investor confidence, a reversal in Binance Coin’s price could support a potential rally toward the $800 level.
Frequently Asked Questions (FAQs)
VBILL is a tokenized fund offering exposure to short-term U.S. Treasury bills. It is designed for institutions and accredited investors with a $100,000 minimum entry.
The integration of VBILL on BNB Chain aligns Binance with institutional-grade financial instruments, boosting its utility in the real-world asset (RWA) space.
BNB has formed a rising channel pattern and is up 270% from its 2023 bottom, signaling potential for an ATH retest at $794, especially as institutional narratives strengthen.
Coingape Staff
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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