Journalist
Hassan Shittu
Journalist
Hassan Shittu
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China Renaissance Holdings is in advanced talks to raise $600 million for a new U.S.-listed investment vehicle centered on Binance’s native cryptocurrency, BNB, according to a Bloomberg report.
The Beijing-based investment bank plans to establish a digital asset treasury company that will hold BNB as its primary asset, targeting both Asian and Western institutional investors.
BNB Hits All-Time High as China Renaissance and YZi Labs Target $600M Treasury Launch
The fund is being co-led by YZi Labs, the investment office linked to Binance founder Changpeng “CZ” Zhao. Both firms are expected to contribute capital, with China Renaissance reportedly committing $100 million and YZi Labs matching that amount.
The remaining $400 million will be sourced from institutional backers and external investors. Insiders say discussions are already at an advanced stage, though neither firm has commented publicly on the matter.
If completed, the project seeks to emulate the corporate strategy popularized by Michael Saylor’s Bitcoin-focused entity, Strategy Inc., which utilized its balance sheet to accumulate Bitcoin as a reserve asset.
The new BNB-focused treasury fund is designed to provide similar exposure for institutions seeking to benefit from the growing adoption and price strength of the Binance ecosystem.
The move follows China Renaissance’s earlier disclosure in August that it had invested about $100 million in BNB, making it the first Hong Kong-listed company to record the token on its balance sheet.
The company, founded in 2007, has gained prominence for backing Chinese technology startups but has since shifted toward blockchain and digital finance following a turbulent period in 2023, when its founder, Bao Fan, was detained by authorities.
YZi Labs, formerly known as Binance Labs, has evolved into an independent family office and crypto investment powerhouse.
It has been building strategic alliances around the BNB ecosystem, including hosting an exclusive dinner in Singapore earlier this month for executives participating in the “BNB Visionary Circle”, an initiative branded as “Igniting the Next Trillion.”
The fund’s structure and strategy align with the growing institutional interest in digital asset treasuries (DATs), which have gained momentum amid renewed optimism for the crypto market.
China Renaissance’s initiative marks one of the largest institutional commitments yet to BNB, further positioning the token as a core holding in corporate digital portfolios.
BNB’s recent market performance has reinforced the timing of the fund’s creation. The token surged over 16% in the past 24 hours, reaching a new all-time high of $1,370 on Monday, according to CoinMarketCap data.
On October 6, BNB surged past $1,300, marking its second all-time high within hours after initially breaking $1,200 earlier in the day.
The rally followed a weekend downturn that saw nearly $20 billion in market-wide liquidations, with BNB rebounding faster than most major cryptocurrencies.
BNB’s market capitalization has now surpassed $180 billion, ranking it as the fourth-largest cryptocurrency globally. Trading volumes have climbed 72% in the past day, and open interest in BNB futures has increased by 34%, indicating heightened speculative and institutional activity.
On-chain metrics also remain strong, with BNB Chain processing more than 3.2 million active addresses daily and reporting a total value locked (TVL) of $9.06 billion, a 9.47% increase in 24 hours.
BNB Eyes $1,500 as Institutional Accumulation and Bullish Charts Align
Institutional interest in BNB surged earlier this year as CEA Industries disclosed a massive holding of 480,000 BNB, making it the largest publicly reported corporate holder of the asset.
The company said it plans to acquire 1% of BNB’s total supply by the end of 2025, underscoring a bold bet on the cryptocurrency’s long-term potential.
CEA’s filings showed an average purchase price of $860 per token, amounting to a $412.8 million investment. By early October, the position was valued at roughly $585.5 million, supported by $77.5 million in cash reserves.
The firm’s purchases came after a major capital raise, allowing it to scale its exposure through both direct acquisitions and structured deals.
Its accumulation strategy placed it ahead of earlier entrants such as Nano Labs and Windtree Therapeutics, both of which had announced BNB-focused investments during the summer.
Meanwhile, B Strategy, a digital asset investment company founded by former Bitmain executives, announced plans for a $1 billion BNB treasury vehicle backed by YZi Labs.
The fund, targeting a U.S. market listing, was described as a “Berkshire Hathaway for the BNB ecosystem,” designed to reinvest in core technologies and community growth.
On the market front, BNB’s technical outlook remains strong. Analysts report bullish indicators on the 4-hour chart, with the token’s RSI near 63 and MACD trending positive.
Sustained momentum could push BNB toward a new all-time high near $1,500, though short-term corrections toward $1,077 remain possible.
