Asset manager VanEck has requested U.S. regulators to allow the listing of an exchange-traded fund (ETF) holding BNB, the native token of Binance's BNB Chain, regulatory filings show.

The ETF is designed to accumulate BNB tokens spot and "over time, may stake a portion of the fund's assets through one or more reputable share providers," according to the ETF's S-1 prospectus. The filing marks the first time an asset manager has applied for a BNB ETF in the U.S.

According to data from CoinMarketCap, the BNB token has a market capitalization of approximately $84 billion. As of May 5, BNB stakers earned a yield of about 2.5%, according to data from Stakingrewards.com.

Binance's BNB Chain is one of the most popular smart contract networks, with a total value locked (TVL) of nearly $6 billion, according to data from DefiLlama.