VanEck Files for a BNB ETF with the SEC

TL;DR

• Asset management firm VanEck has filed for a spot BNB ETF with the U.S. SEC.

• This is the latest altcoin ETF application as asset managers race to make altcoin ETFs available to investors.

VanEck Files for a BNB ETF

Asset manager VanEck has filed for an exchange-traded fund (ETF) that would grant investors access to BNB, Binance’s native coin, according to a recent regulatory filing. 

According to VanEck, the ETF will accumulate spot BNB tokens and may, from time to time, stake a portion of the [fund’s] assets through one or more trusted staking providers. This is the first time an asset management firm is looking to list a spot BNB ETF in the United States. 

BNB, Binance’s native coin, is currently the fifth-largest cryptocurrency, with a market cap of $84 billion. The token currently trades at $599, up 2% in the last 24 hours. 

Binance’s BNB Chain is among the most popular smart contract networks and has a total value locked (TVL) of nearly $6 billion.

This latest development comes as asset management firms file several altcoin ETFs in the United States. So far, asset management firms have filed to list XRP, Solana, Litecoin, Dogecoin, Sei, Sui, Chainlink, and Avalanche ETFs with the SEC. The SEC has acknowledged dozens of cryptocurrency ETF proposals since US President Donald Trump took office on Jan. 20.