VanEck is moving to expand the scope of crypto investment vehicles in the U.S. with a proposed exchange-traded fund focused on Binance Coin (BNB), the native asset of the BNB Chain.
The firm submitted a Form S-1 to the U.S. Securities and Exchange Commission (SEC) on May 2, seeking approval for the VanEck BNB ETF. If approved, it would be the first U.S.-listed fund offering direct exposure to BNB, a cryptocurrency whose roots trace back to the leading cryptocurrency exchange Binance.
Bloomberg’s ETF analyst Eric Balchunas noted:
Interesting timing with TOKEN2049 just a few days ago where CZ spoke and Jan Van Eck attended, not sure if connected but CZ was really impressive i gotta say.
The ETF is structured to track the market price of BNB through direct token holdings, allowing investors to gain access to the asset without using crypto exchanges or managing wallets.
The application also notes that the fund may include a staking feature, subject to regulatory and listing exchange approval. If implemented, the ETF would stake BNB via third-party providers, potentially including VanEck affiliates, to earn passive rewards.
Based on the current rate at Ankr, those passive rewards could hover around 0.92% per year at the time of writing. This would mark a novel addition to the U.S. ETF market—staking has been limited to overseas funds or crypto-native platforms.
VanEck’s Push for BNB ETF
BNB is a utility token that fuels transactions and smart contract execution on BNB Chain, a blockchain platform used for decentralized applications (dApps).
It also plays a role in token launches and decentralized trading within the Binance ecosystem. With a current price hovering near $600 and a multi-billion dollar market capitalization, BNB is the fifth-largest crypto asset at the time of writing.
Binance launched the token through an initial coin offering (ICO) as it sought to finance its launch. Those who participated in the ICO in 2017 have fared well, with the price rising from around $0.1 to now stand near $600. Those interested in a BNB price prediction can see our dedicated article here.
The ETF filing continues VanEck’s push to be a first-mover in the U.S. crypto investment space. The firm previously launched spot Bitcoin and Ethereum ETFs after hard-won SEC approvals and recently applied for the first AVAX ETF in the country.
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