This new fund aims to acquire and hold BNB as a long-term strategic asset, building on China Renaissance's previous $100 million investment, making it the first Hong Kong-based firm to include BNB in its proprietary assets.

China Renaissance, a Chinese investment bank, is planning to raise around $600 million through a public fund to invest in Binance Coin (BNB), with a significant $200 million contribution from Changpeng Zhao's family office, YZi Labs.

The initiative follows China Renaissance's ongoing expansion into digital finance, including partnerships with YZi Labs to develop the BNB Chain ecosystem and tokenization of real-world assets.

China Renaissance's efforts are part of a broader strategy to grow BNB's ecosystem, which has seen increased transaction volumes, active users, and record-high trading activity.

The move signals a shift in institutional adoption, with BNB potentially expanding its influence across Asian markets to rival Ethereum's dominance in the West.

The fundraising effort is also linked to the creation of a U.S.-based publicly traded vehicle dedicated solely to BNB investments, potentially making it one of the largest single holdings by a listed company.

This vehicle would be structured as a publicly traded company in the U.S., aiming to acquire and hold BNB, similar to corporate crypto treasury models.

China Renaissance's credibility in the crypto space is bolstered by its partnership with YZi Labs and its ongoing digital finance activities, despite leadership changes like the detention of former chairman Bao Fan.

Recent market activity shows BNB's price reaching around $1,319, nearing its all-time high of $1,375, with technical indicators suggesting potential for further gains, despite some expected short-term corrections.

BNB's price surged over 16% to a new high of $1,370.55, with trading volume increasing significantly, fueling speculation about reaching $2,000.

The token's recent performance outpaced the broader market, which declined 8.45% over the past week, and BNB's open interest across exchanges exceeds $2.65 billion, indicating strong trader interest.

This strategic push by China Renaissance and YZi Labs highlights the growing institutional interest in BNB, as corporate treasuries like CEA Industries and Nano Labs also hold substantial BNB reserves, with CEA recently purchasing an additional 61,112 BNB.