New Crypto Fund Targets BNB, Plans Nasdaq Listing

A new crypto fund led by ex-Coral Capital executives aims to acquire $100 million in BNB tokens and seeks a Nasdaq listing, marking a pivotal moment for institutional crypto adoption.

This initiative could elevate BNB’s status in financial markets, encouraging institutional investors to explore altcoins beyond Bitcoin and Ethereum.

Ex-Coral Execs Lead $100M BNB Fund for Nasdaq

Executives Joshua Kruger, Patrick Horsman, and Johnathan Pasch, formerly of Coral Capital, are spearheading a crypto fund targeting BNB for Nasdaq listing. They are driven by the premise that BNB’s unique blockchain attributes could match institutional needs.

Seeking to raise $100 million, the initiative will establish a public company to hold BNB as treasury reserves, independent of Binance influences. Changpeng Zhao, Founder, Binance, has commented, “BNB is a public blockchain native coin, not ‘linked’ to Binance Holdings Ltd or Binance CEX.”

BNB Fund Aims to Boost Institutional Visibility

The fund’s actions could enhance BNB’s institutional visibility, potentially increasing demand and shifting liquidity trends within the crypto market. An unnamed hedge fund executive noted, “Our approach mirrors MicroStrategy’s corporate Bitcoin accumulation, aiming to provide institutional investors with direct exposure to BNB.”

Financial movements may mirror Bitcoin strategies, broadening interest to high-profile altcoins, further legitimizing crypto-assets in mainstream financial balance sheets.

BNB Initiative Mirrors MicroStrategy’s Bitcoin Strategy

This move resembles MicroStrategy’s strategy of holding Bitcoin as company reserves, positioning BNB similarly within corporate treasury models. Experts predict this could spur momentum for institutional-focused crypto assets, fostering diversified portfolios that integrate other major altcoins.