Binance adds 11 US-listed ETFs to wealth management offering
The crypto exchange is expanding its traditional finance offerings with 11 US-listed exchange-traded funds focused on US Treasurys and investment-grade bonds.
Crypto exchange Binance is expanding its traditional finance offerings by adding 11 US-listed exchange-traded funds (ETFs) focused on US Treasurys and investment-grade bonds. These funds are part of Binance's new wealth management service, which provides users with access to various investment products tailored to different investment horizons, from under six months to over a year.
Binance's wealth management service groups the ETFs into three categories: cash management, steady income, and yield enhancement products. Users can browse and place orders for these ETFs directly through Binance Earn, with purchases processed via the exchange's stock trading service. Unlike tokenized stocks, users acquire actual ETF shares through this service, allowing them to benefit from price movements and cash distributions.
Binance collaborates with Nest Trading, which routes orders to Alpaca Securities for execution and holds the securities on behalf of users. This arrangement enables Binance users to access traditional securities through the same platform they use for cryptocurrency, while the underlying assets remain within conventional brokerage infrastructure.
The expansion of Binance's TradFi business follows the addition of physically settled options on over 1,000 US stocks and ETFs earlier this month. This move builds upon the exchange's existing equities offering of more than 7,000 stocks and ETFs.
A recent PwC survey revealed that more than 80% of respondents believe tokenization will enhance the global reach and 24/7 accessibility of ETF markets within the next three years.
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