A BNB ETF is unlikely to ever be approved due to the SEC's decentralization requirement (bypassed by projects like XRP via escrow services). Digital Asset Treasuries will likely be the only way for tradfi institutions to obtain @binance exposure in a regulatory compliant manner. I expect BNB DATs to be one of the few that do quite well due the deflationary and under-owned nature of the asset. Will be tracking NAV publicly and post periodic updates on this thesis.(CryptoCondom)