VanEck launches first US spot BNB ETF on Nasdaq ticker VBNB

Asset management firm VanEck launched the first U.S. exchange-traded fund offering direct spot exposure to BNB on Thursday. The new product, trading under the ticker VBNB on the Nasdaq, provides investors with a regulated way to gain exposure to the cryptocurrency through traditional brokerage accounts without having to buy or store the token directly.

The ETF is physically backed by BNB held in cold storage, with Anchorage Digital Bank serving as the qualified custodian. The fund carries a sponsor fee of 0.39% and is designed to track the spot price of BNB, the native token of the BNB Chain blockchain network. The launch follows a lengthy application process that began in May 2025, with VanEck and competitor Grayscale submitting amended filings earlier this month.

Notably, the fund’s prospectus excludes a staking feature at launch, a component VanEck removed from its proposal last November amid regulatory uncertainty in the United States. However, the filing contains conditional language that would allow for the future incorporation of staking rewards if regulations permit.

In its announcement, VanEck highlighted the scale of the BNB Chain ecosystem, which it described as one of...