TLDR
Binance’s family office backs a BNB-focused treasury firm, aiming for a U.S. listing and broader institutional access.
10X Capital will manage the BNB Treasury Company, targeting both retail and institutional investors in the BNB ecosystem.
BNB has evolved into one of the largest cryptocurrencies, powering the BNB Chain, a top platform for decentralized apps.
Zhao’s BNB Treasury aims to expand U.S. investor access, addressing a gap in institutional exposure to the token.
Binance founder Changpeng Zhao’s family office has announced its backing for the creation of a new treasury firm focused on BNB, with plans to list the company on a major U.S. exchange. This move signifies an increasing interest in providing institutional exposure to BNB, the native token of the Binance ecosystem, as the crypto market continues to mature.
The new entity, which will be managed by 10X Capital, will focus on acquiring and holding substantial amounts of BNB. The firm aims to offer both institutional and retail investors a chance to participate in the growth of one of the largest and most active blockchain ecosystems, BNB Chain. According to a statement from YZi Labs, the family office behind the initiative, the company expects to announce its financing close in the near future.
Formation of the BNB Treasury Company
The new venture, referred to as the “BNB Treasury Company,” will be headed by David Namdar, a senior partner at 10X Capital and co-founder of Galaxy Digital. Namdar previously co-led the trading division at Galaxy Digital, bringing extensive experience to the treasury firm. The firm will operate as an asset manager, specifically focusing on the acquisition and holding of BNB tokens. YZi Labs, Zhao’s family office, will provide financial backing for the project, helping to launch the company with an eye on the public listing.
BNB meets Wall Street.
YZi Labs is officially supporting @10XCapitalUSA to develop the BNB Treasury Company.
U.S. investors now have a gateway for BNB’s growth.
YZi Labs champions BNB as a treasury asset, and chooses our partners with care.
Rely only on our official channels… https://t.co/4zEGKki0ve
— YZi Labs (@yzilabs) July 10, 2025
“This company will allow institutional investors to gain direct exposure to BNB, which is one of the most widely adopted blockchain ecosystems,” said Ella Zhang, head of YZi Labs. She added that the expansion of institutional access to BNB could offer numerous benefits to the broader market.
This move comes amidst a broader trend in which several companies are looking to buy and hold digital assets, such as Bitcoin and altcoins, in an effort to tap into the growing demand for cryptocurrency exposure on Wall Street. The idea of creating a treasury firm that exclusively holds BNB is seen as a method of making the token more accessible to traditional investors.
BNB’s Role in the Crypto Ecosystem
BNB was initially launched by Binance as a utility token for users of the exchange, offering perks such as reduced trading fees. Since its creation, BNB has evolved, becoming the primary token for the BNB Chain, which was introduced in 2019. BNB has since grown into one of the largest cryptocurrencies by market capitalization.
The BNB Chain is designed to support a wide range of decentralized applications (dApps) and products. It has become one of the most used ecosystems in the blockchain space, with millions of users and a large number of active dApps. Despite Binance’s pivotal role in BNB’s creation and development, the exchange itself does not control or manage the token or the blockchain. Zhao has also made it clear that BNB plays a central role in his personal portfolio, with over 94 million tokens in circulation.
According to a report from Forbes, Zhao and Binance collectively control nearly 96% of the BNB tokens in circulation. While Zhao is banned from managing Binance as part of a settlement with U.S. authorities, he remains the largest shareholder in the exchange.
BNB Treasury Firm’s Market Strategy
The formation of the BNB Treasury Company represents a strategic move by Zhao and his investment partners to institutionalize the cryptocurrency and broaden its exposure in traditional financial markets. The firm aims to make BNB more accessible to U.S.-based investors, who have had limited access to the token in the past.
Hans Thomas, founder and CEO of 10X Capital, stated that while BNB is a large and high-performing asset in the digital space, there has been limited exposure to it among U.S. investors. With the planned public listing, the company hopes to address this gap and provide a viable investment vehicle for institutional investors looking to add BNB to their portfolios.
The company’s expected listing in the U.S. comes at a time when cryptocurrency adoption is expanding, and public companies are increasingly interested in gaining exposure to crypto assets. Recent moves by firms such as Nano Labs, which has already committed to acquiring BNB, show the growing appetite for crypto-related investments.
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