VanEck Asks US Regulators to List an Exchange-Traded Fund (ETF) Holding BNB

Asset manager VanEck has asked US regulators for permission to list an exchange-traded fund (ETF) holding BNB, the native token of Binance's BNB Chain, regulatory filings show.

Asset manager VanEck has requested permission from US regulators to list an exchange-traded fund (ETF) holding BNB, the native token of Binance’s BNB Chain, according to a recent filing.

The ETF, named the VanEck Digital Currency Trust (BNB), will be structured to accumulate spot BNB (BNB) tokens and may, at times, stake a portion of the fund’s assets through one or more trusted staking providers, as disclosed in the ETF’s S-1 prospectus.

This filing marks the first instance of an asset manager applying for a BNB ETF in the United States.

The BNB token currently has a market capitalization of approximately $84 billion, as per data from CoinMarketCap. Additionally, BNB stakers are earning a yield of roughly 2.5%, according to figures from Stakingrewards.com for May 5.

Binance’s BNB Chain is among the most recognized smart contract networks, with a total value locked (TVL) of nearly $6 billion, according to data from DefiLlama.

This filing comes just days after Binance co-founder Changpeng "CZ" Zhao expressed his anticipation for the popularity of Bitcoin (BTC) ETFs to eventually transfer to altcoins.

"This cycle so far has been the ETFs. And it’s almost all Bitcoin. Ether hasn’t had as much success but Bitcoin success will spill over to the others eventually," CZ stated during the Token2049 conference in Dubai.

Spot Bitcoin ETFs have attracted significant net inflows, exceeding $40 billion since their launch in January 2024, according to data from Farside Investors.

In other news, the US Securities and Exchange Commission (SEC) has received a new wave of applications for ETFs that would hold altcoins, marking the first time in the Trump administration that such plans are being considered.

Since President Donald Trump took office on January 20, 2017, the SEC has acknowledged plans for ETFs holding major cryptocurrencies like Bitcoin and Ether, and now, potentially, some of the smaller, more niche altcoins.

Among the new filings, Cathay Bank is applying for an ETC to track the price of BTC, while Gemini, a cryptocurrency exchange, is aiming to launch an ETF that will hold Ether (ETH).

Moreover, asset manager Harvest Global is planning to introduce an ETF that will provide exposure to a basket of 10 cryptocurrencies, including Bitcoin, Ether, and Litecoin (LTC).

These filings follow an earlier batch of applications for Bitcoin ETFs, which were ultimately rejected by the SEC. However, the agency did approve several Bitcoin futures ETFs for listing in 2021.

The SEC is also currently reviewing several proposals for spot Bitcoin ETFs, with a decision on these funds expected in the coming months.input:

Asset manager VanEck has requested permission from US regulators to list an exchange-traded fund (ETF) holding BNB, the native token of Binance’s BNB Chain, regulatory filings show.

The ETF, named the VanEck Digital Currency Trust (BNB), will be structured to accumulate spot BNB (BNB) tokens and “may, from time to time, stake a portion of the [fund’s] assets through one or more trusted staking providers,” according to the ETF’s S-1 prospectus.

The filing marks the first time an asset manager has applied for a BNB ETF in the United States.

The BNB token has a market capitalization of roughly $84 billion, according to data from CoinMarketCap.

As of May 5, BNB stakers earn a yield of approximately 2.5%, according to data from Stakingrewards.com.

Binance’s BNB Chain is among the most popular smart contract networks, with a total value locked (TVL) of nearly $6 billion, according to data from DefiLlama.

This filing comes just days after Binance co-founder Changpeng "CZ" Zhao reportedly said he expects the popularity of Bitcoin (BTC) ETFs to eventually "spill over" into altcoins.

"This cycle so far has been the ETFs. And it's almost all Bitcoin. Ether hasn't had as much success but Bitcoin success will spill over to the others eventually," CZ said during the Token2049 conference in Dubai, according to a report by The Block.

The Bitcoin ETFs have attracted net inflows of more than $40 billion since launching in January of 2024, according to data from Farside Investors.

The filing is the newest in a flurry of filings seeking to list ETFs holding altcoins.

The US Securities and Exchange Commission (SEC) has acknowledged plans for ETFs holding major cryptocurrencies since US President Donald Trump took office on Jan. 20, 2017.

They include plans for ETFs holding native layer-1 tokens such as Solana (SOL) as well as memecoins such as Dogecoin (DOGE).

VanEck has filed to list other cryptocurrency ETFs over the past