American investment manager VanEck has officially filed a registration statement with the US SEC to launch the VanEck BNB ETF

American investment manager VanEck has officially filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the VanEck BNB ETF (Ticker: TBD).

The filing, submitted on May 2 in Form S-1, marks a significant step towards launching the first U.S.-registered ETF to provide exposure to BNB via direct token holdings.

The ETF, which is still pending regulatory approval, would be designed to directly track the price of BNB, the native asset of the BNB Chain, enabling investors to easily invest in the cryptocurrency through a familiar ETF format.

The preliminary prospectus also mentions the possibility of the ETF featuring staking, subject to approval from the listing exchange, to allow investors to earn additional BNB rewards.

If permitted, the ETF could generate passive income by staking BNB through trusted third-party providers, potentially including affiliates of VanEck, further enhancing the investment opportunity.

The SEC filing follows VanEck's registration of a trust entity in Delaware last month, specifically for the BNB ETF, aiming to make it the inaugural ETF to track BNB in the U.S.

This development adds another milestone to VanEck's expanding portfolio of crypto investment products.

Earlier this year, VanEck received approval for its spot Bitcoin and Ethereum ETFs, marking a turning point in the U.S. crypto market.

The firm was also among the first to propose a futures-based Bitcoin ETF back in 2017.

With the BNB ETF, VanEck continues to push boundaries and innovate in the evolving digital asset landscape.

BNB, the utility token of the BNB Chain ecosystem and currently the fifth-largest crypto asset by market capitalization, is trading around $608, with minimal price movement in the past 24 hours, according to CoinMarketCap.

The token fuels transactions and smart contracts on BNB Chain and is employed in a multitude of applications across the Binance ecosystem.