10X Capital and Binance co-founders’ family office YZi Labs is setting up an investment fund to offer US investors direct exposure to Binance’s native token, BNB. The two financial institutions are collaborating to launch a publicly traded entity called the BNB Treasury Company, which will focus exclusively on acquiring and holding BNB, the fourth-largest cryptocurrency by market capitalization.
According to a press statement released Thursday, YZi Labs will support 10X Capital in its pursuit of a listing on a US stock exchange. The new fund will reportedly provide both institutional and retail investors in the United States with a regulatory compliant way to invest in the BNB Chain.
Backing from Binance founders’ family office
YZi Labs, which manages around $10 billion in assets, is the family office of Binance co-founders Changpeng Zhao (CZ) and Yi He. The firm confirmed it will “support” the establishment of the BNB Treasury Company but did not disclose further details of its financial or operational involvement.
10X Capital has assembled a leadership team with years of experience in digital asset management and institutional finance. David Namdar, a senior partner at 10X and co-founder of Galaxy Digital, will co-lead the initiative.
Joining him is Russell Read, Chief Investment Officer at 10X Capital and a former CIO at several institutions including CalPERS, the Alaska Permanent Fund, and Deutsche Asset Management. Former Kraken product leader and director Saad Naja will be part of the executive board. Naja sits on the board of Exinity, a global retail brokerage firm.
Capital raised to fund initial BNB acquisition
10X Capital has partnered with Cohen & Company Capital Markets and Clear Street LLC to raise funds for the initial purchase of BNB. The investment firm will also manage the treasury company. It has experience in launching digital asset treasury firms, including Nakamoto (Nasdaq: NAKA).
The capital raise is almost similar to the iteration of the publicly traded crypto treasury model used by business intelligence firm Strategy (formerly MicroStrategy) to buy Bitcoin under the leadership of Michael Saylor.
“BNB is the gas, the glue, and the governance layer for a scalable, decentralized future, powered by builders, for builders,” Ella Zhang, Head of YZi Labs said, speaking on the partnership.
Zhang mentioned that the initiative would combine the strengths of BNB’s ecosystem with 10X Capital’s asset management and capital markets capabilities. She reiterated that YZi Labs is still “choosy” with its formal partnerships and would only announce official collaborations via its own channels.
Hans Thomas, CEO of 10X Capital, said BNB Chain’s adoption and technical performance made it the best candidate for US investment exposure.
“BNB Chain powers hundreds of millions of users, yet U.S. investors still lack access to its growth,” he surmised. “The time is right for a well-capitalized, institutionally managed treasury company focused solely on BNB.”
Institutions move to BNB accumulation in search of gains
10X Capital is among several entities that have made the decision to add BNB to their portfolio. Last week, Chinese Web3 infrastructure company Nano Labs Ltd., publicly traded on NASDAQ, recently disclosed a $50 million purchase of BNB. The company acquired 74,315 BNB tokens at an average price of $672.45 per coin.
Separately, Bloomberg reported on June 23 that a team of former Coral Capital Holdings executives is seeking to raise $100 million to acquire BNB through a Nasdaq-listed firm. Led by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, the group wants to rename the company Build & Build Corporation and begin accumulating BNB after completing fundraising this month.
Aside from its BNB treasury ambitions, YZi Labs is backing one of its affiliates, BounceBit, to offer tokenized stock trading by the fourth quarter of 2025.
In a July 2 post on X, BounceBit said it plans to make securities from the US, Europe, Hong Kong, and Japan available on-chain. “The idea is simple: take real-world public market assets and make them instantly accessible onchain,” the post read.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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