Digital asset manager Vaneck has filed with the U.S. Securities and Exchange Commission (SEC) to launch the first U.S.-listed exchange-traded fund (ETF) offering direct exposure to BNB, the native cryptocurrency of the BNB Chain.
BNB Enters ETF Arena With New Vaneck Filing
On May 2, 2025, Vaneck Digital Assets, LLC submitted an S-1 registration statement to the SEC for the proposed Vaneck BNB ETF. The fund aims to track the price performance of BNB, with less operational expenses, by holding the digital asset directly. The S-1 filing follows the incorporation of the firm’s BNB Delaware trust initiated at the start of April.
If approved, the Vaneck BNB ETF would trade on a national securities exchange under a designated ticker, offering investors access to BNB without needing to manage wallets or use crypto trading platforms. The ETF’s shares would be priced daily based on an index curated by Marketvector Indexes GmbH, reflecting prices from what the sponsor identifies as the top five BNB trading platforms.
The Trust may, in the future, participate in staking BNB to generate additional yield, pending regulatory clearance from the SEC and the exchange where it lists. However, it will not participate in forks, airdrops, or claim associated virtual currency rights.
Vaneck’s filing notes that the ETF will operate as a passive investment vehicle and will not use leverage or derivatives. Shares will be created and redeemed in large blocks, or “baskets,” via authorized participants in either cash or in-kind BNB transactions.
The firm states that the ETF’s assets will be securely held by a third-party custodian using both cold and hot storage infrastructure. The custodian’s insurance policies offer limited protection in cases of theft or fraud but do not cover losses in BNB market value. This filing represents another step in traditional finance’s (TradFi) ongoing integration of digital assets.
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