VanEck Seeks SEC Approval for First U.S. Spot BNB ETF on Nasdaq
2.7 Investments VanEck has filed to launch the first U.S. spot BNB ETF on Nasdaq, offering direct exposure to Binance Coin. The ETF will not include staking, reflecting regulatory caution.
VanEck has filed an updated application with the U.S. Securities and Exchange Commission to launch the first spot BNB exchange-traded fund (ETF) in the United States, aiming to list the product on Nasdaq under the ticker VBNB. The ETF would hold Binance Coin (BNB) directly, providing regulated exposure to the fifth-largest cryptocurrency by market capitalization. The fund will track BNB’s real-time price using the MarketVector BNB Index and store tokens in secure custody, mirroring structures used by existing Bitcoin and Ethereum spot ETFs. VanEck’s amended filing clarifies that the ETF will not participate in staking activities or earn staking rewards at launch, citing regulatory uncertainty, and warns that if BNB is classified as a security, the ETF may be dissolved. The move marks a significant step in expanding regulated crypto ETF offerings beyond Bitcoin and Ethereum, potentially opening the door for broader institutional and retail participation in BNB.
