2025-05-06
On May 2, 2025, investment firm VanEck
has filed FORM-S1 with the SEC for approval to launch an exchange-traded fund
(ETF) that holds BNB, the native cryptocurrency use on Binance’s BNB Chain.
This is the first time a company has
tried to list a BNB ETF in the United States.
The ETF is a spot BNB ETF. According
to the official filing, the ETF would hold actual BNB tokens and it plans to stake
a portion of BNB tokens through one or more trusted staking providers, according to
the ETF’s FORM S-1.
BNB is currently the fifth-largest
cryptocurrency, with a market value of $84 billion. As of May 5, people staking
BNB earn about 2.5% annually.
VanEck’s move is part of a broader trend,
with many firms recently applying to list ETFs for various cryptocurrencies.
These include tokens like Solana and
Avalanche, as well as popular meme coins like Dogecoin. The U.S. Securities and
Exchange Commission (SEC) has received dozens of these applications since early
2021.
