Asset management firm VanEck has filed with the U.S. Securities and Exchange Commission (SEC) to launch the country’s first exchange-traded fund (ETF) tracking $BNB , the native token of Binance’s BNB Chain.
According to the May 5 filing, the proposed ETF would hold spot BNB tokens and may stake a portion of its holdings through trusted providers. If approved, this would mark a major milestone for altcoin-based ETFs in the U.S., expanding beyond Bitcoin and Ethereum offerings.
BNB currently holds a market cap of around $84 billion and yields approximately 2.5% through staking. The BNB Chain is one of the most active smart contract platforms, with nearly $6 billion in total value locked.
The move follows Binance co-founder CZ’s recent comments at Token2049 in Dubai, predicting that Bitcoin ETF success will “spill over” into altcoins. VanEck’s filing adds to a wave of altcoin ETF applications, including those for Solana, Avalanche, and even Dogecoin, as crypto adoption among institutional investors accelerates.
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