Investment bank China Renaissance is in talks to set up a $600 million fund to hold BNB, marking a major step forward in building a digital asset reserve fund.
Beijing-based investment bank China Renaissance is in advanced talks to raise $600 million for a public listing fund focused on BNB, Binance’s native Token , according to Bloomberg . The move comes as BNB hit an All-Time-High this week, despite the overall decline in the crypto asset market following a recent correction.
The fund is expected to be co-led by YZi Labs, the investment arm of Binance co-founder Changpeng “CZ” Zhao, with a commitment of around $100 million. China Renaissance will also contribute an equal amount, while the rest will be raised from other institutional investors.
YZi Labs, formerly Binance Labs, has recently repositioned itself as a family office and influential independent crypto asset investment firm. YZi Labs’ involvement as co-leader shows that Binance-affiliated Capital is increasingly expanding its influence in establishing institutional access channels for BNB.
Strategic shift from technology to digital assets
Founded in 2007, China Renaissance was known for backingChinese tech startups before pivoting to digital finance. The bank experienced a difficult period in 2023 when founder Bao Fan was detained by Chinese authorities, but has since restructured its strategy to focus on blockchain investments.
The move follows an earlier $100 million investment commitment in August, when China Renaissance became the first Hong Kong-listed company to publicly hold BNB on its balance sheet.
The push for the BNB reserve reflects a growing trend among global companies to build digital asset reserves. The concept was initiated after MicroStrategy, now Strategy, pioneered the use of Bitcoin as a strategic reserve asset.
Now, the strategy is expanding to other assets such as Ethereum, Solana and BNB, not only for their potential upside but also to take advantage of the profit opportunities and integration into their respective blockchain ecosystems. For BNB, the formation of a reserve fund worth hundreds of millions of USD will be one of the largest institutional backings, which can increase liquidation and solidify BNB Chain's position as an important blockchain ecosystem.
