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Cryptocurrency News Articles

VanEck Files to Launch the First U.S.-Based Binance Coin (BNB) Exchange-Traded Fund (ETF)

May 05, 2025 at 08:01 pm

Asset manager VanEck has filed a registration statement with the U.S. Securities and Exchange Commission to launch the first U.S.-based exchange-traded fund (ETF)

VanEck Files to Launch the First U.S.-Based Binance Coin (BNB) Exchange-Traded Fund (ETF)

Asset manager VanEck has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the first U.S.-based exchange-traded fund (ETF) tied to Binance Coin (BNB).

If approved, the ETF would mark a major milestone for altcoin financial products, broadening access to crypto investment beyond Bitcoin and Ethereum, reports CoinGape.

The filing with the SEC on Wednesday comes after VanEck registered a BNB trust in Delaware in April. The firm is also seeking approval for other altcoin ETFs, including an Avalanche ETF.

The ETF would be structured as a trust, with shares of the ETF sold on a national securities exchange. The filing also mentions that BNB held in the trust may be used to generate staking rewards, potentially adding an income layer for ETF holders.

While products such as the 21Shares BNB ETP already exist in Europe, no BNB ETF has yet been approved in the United States.

The filing follows a period of inactivity in the U.S. ETF market, with no new approvals since early 2022. However, several firms, including BlackRock and Ark Invest, are actively seeking approval for various crypto ETFs.

Recently we wrote that ​​Morgan Stanley is preparing to introduce cryptocurrency trading on its E*Trade platform, signaling a significant expansion into digital assets as the Trump administration dismantles longstanding regulatory hurdles.

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Other articles published on Jun 09, 2025