The 21Shares Binance BNB ETP is an exchange-traded product that tracks the performance of Binance Coin (BNB), the native token powering the Binance ecosystem, including the world's largest cryptocurrency exchange by daily trading volume. Issued by 21Shares AG and domiciled in Switzerland, this 100% physically backed ETP provides regulated, transparent exposure to BNB, the fourth-largest cryptoasset by market capitalization, without requiring direct custody of the underlying asset. BNB serves as the gas currency for transactions on the Binance Smart Chain, a smart contract platform offering lower fees and faster processing than competitors like Ethereum, while enabling fee discounts, staking rewards, and participation in DeFi activities. Notable features include cold storage custody by institutional providers like BitGo and a 2.50% annual fee, with UCITS and AIF eligibility in applicable jurisdictions. In the financial markets, it bridges traditional finance and crypto, allowing investors familiar access to BNB's growth tied to Binance's expansive infrastructure, trading, and blockchain utilities.