VanEck files for first US ETF tracking Binance’s BNB token, potentially offering staking rewards to investors

Asset management firm VanEck has filed with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will directly track Binance Coin (BNB).

What Happened: The $116.3 billion asset manager is seeking to offer institutional and retail investors with direct exposure to BNB’s price performance through a regulated product.

If approved, the VanEck BNB ETF will become the first American-listed ETF to provide a direct investment vehicle for BNB in the US market. The filing, submitted on May 2 under Form S-1, adds to VanEck’s expanding crypto ETF portfolio, which includes products tied to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX).

Earlier in April, VanEck registered a Delaware trust for the ETF, laying the legal groundwork for what could become the first US-based BNB fund. The proposed ETF’s ticker has not yet been disclosed.

The move could further legitimize BNB in US markets, where Binance itself faces regulatory scrutiny and limited dominance in local spot crypto trading.

The prospectus reveals that the BNB ETF may integrate staking functionality, allowing investors to earn yield on their BNB holdings, subject to exchange and SEC approval.

“The Trust may enter into an agreement with a third party to provide staking services, or may itself provide such services,” the filing stated.

If authorized, the staking feature will mark a first among US-listed ETFs, introducing an income-generating mechanism to a traditionally passive investment vehicle.

BNB staking services are currently offered by trusted third-party validators on the BNB Chain, supporting various applications such as network validation and DeFi services.

The staking program offers annual yields of up to 10%, which are attractive to long-term holders of BNB.

Including staking in the ETF would significantly differentiate it from Bitcoin and Ethereum spot ETFs, which do not yet offer native yield options in the US market. It may also appeal to institutional investors seeking blockchain exposure with more complex and yield-enhanced structures.

However, the US SEC’s stance on enabling staking in registered investment products is still open to interpretation. The agency had previously targeted similar features in other projects.

The integration of such functionality in the BNB ETF will hinge on the SEC’s approval of the ETF itself and any derivatives Clearances that may be required for the staking service provider.

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