VanEck, a prominent asset management firm overseeing approximately $116 billion in assets, has officially filed for the first-ever U.S. spot exchange-traded fund (ETF) tracking Binance Coin (BNB), the native cryptocurrency of the BNB Chain ecosystem. The filing, submitted on May 2, 2025, under Form S-1 to the U.S. Securities and Exchange Commission (SEC), marks a significant milestone in the integration of digital assets into traditional financial markets .
Prior to this SEC filing, VanEck registered a trust entity named “VanEck BNB ETF” in Delaware on March 31, 2025, under filing number 10148820. This step is a customary precursor in the ETF launch process, establishing the legal framework necessary for the fund’s operation
The proposed ETF aims to provide investors with direct exposure to BNB’s price movements, offering a regulated investment vehicle for one of the world’s largest cryptocurrencies by market capitalization. Notably, the preliminary prospectus indicates that, pending regulatory approval, the ETF may incorporate a staking feature, allowing investors to earn additional BNB rewards through vetted providers .
VanEck’s initiative reflects a broader trend of increasing institutional interest in cryptocurrency ETFs. The firm has previously launched spot Bitcoin and Ethereum ETFs and has filed for ETFs based on other cryptocurrencies such as Solana and Avalanche .
As of the latest data, BNB is trading at approximately $596.72, with a 24-hour change of 0.01275% . The approval of the VanEck BNB ETF could potentially enhance BNB’s accessibility to a broader range of investors, further bridging the gap between traditional finance and the evolving digital asset landscape.
