VanEck, a major asset manager managing $116.3 billion, has filed with the U.S. Securities and Exchange Commission (SEC) to launch the first U.S.-listed exchange-traded fund (ETF) tracking Binance Coin (BNB), the native token of Binance’s BNB Chain.
The proposed VanEck BNB ETF aims to provide investors direct exposure to BNB’s spot price by holding the token physically, without using derivatives or leverage. The fund may also stake a portion of its BNB holdings through trusted providers to generate additional yield, currently around 2.5% for BNB stakers. Custody of the tokens will be managed by a regulated custodian employing advanced security measures.
This filing marks a significant milestone as the first attempt to list a BNB-focused ETF in the U.S., expanding VanEck’s growing crypto ETF portfolio that already includes Bitcoin, Ethereum, Solana, and Avalanche. The BNB Chain is a leading smart contract platform with nearly $6 billion total value locked, and BNB itself has a market capitalization near $84 billion.
VanEck’s move follows increased interest in altcoin ETFs after the success of Bitcoin ETFs, which have attracted over $40 billion in net inflows in 2024. Binance co-founder Changpeng Zhao expects Bitcoin ETF popularity to eventually boost altcoin ETF demand as well.
The ETF’s approval is pending, and the SEC has postponed decisions on altcoin ETFs until June 2025. If approved, the VanEck BNB ETF would offer a regulated, accessible way for both retail and institutional investors in the U.S. to gain exposure to Binance’s native token and benefit from staking rewards.
