VanEck files for first BNB ETF in the U.S.
VanEck, a Wall Street giant managing nearly $115 billion in assets, has taken a bold step in the digital asset space by filing for the first Binance Coin (BNB) exchange-traded fund (ETF) in the U.S. The filing marks another milestone for VanEck, which has already seen success with Bitcoin and Ethereum ETFs. Changpeng Zhao, former CEO of Binance, the exchange behind BNB, has also confirmed the development, adding credibility to the initiative.
The filing was made on March 31, 2025, with Delaware state registration number 10148820, to form a trust vehicle for the proposed BNB ETF. It’s a procedural step prior to VanEck’s actual filing with United States Securities and Exchange Commission (SEC) for clearance. While products like 21Shares Binance BNB ETP are already available, this marks the first single-purpose filing of a BNB ETF in the US market. With this action, BNB becomes the fifth cryptocurrency whose single-purpose ETF has been filed by VanEck in Delaware state after Bitcoin, Ethereum, Solana, and Avalanche.
The new ETF will track the price of BNB, currently the fifth-largest cryptocurrency by market cap. The price of BNB sat near $604 as of writing on April 2, 2025, 09:45 AM, with very little price action over the past 24 hours, according to CoinGecko data. The fact that VanEck has a track record of breaking new ground with its crypto ETFs lends some credence to this filing. The company was earliest to bring a Bitcoin futures ETF to the public in 2017, a Solana ETF in June 2024, and last month’s Avalanche ETF, all industry firsts.
VanEck’s more expansive plans in its entry into the domain of cryptocurrencies also entail reaching beyond the U.S. The company recently met with Vietnam’s State Securities Commission (SSC) on March 17, 2025, to establish a Bitcoin-focused fund or product in the country. The listing application of a BNB ETF, coupled with VanEck’s overseas endeavors like its probing into Vietnam, puts the company firmly ahead of others in bridging traditional finance to digital assets, setting the stage for greater mainstream adoption of digital assets like BNB.
