VanEck launches first U.S. spot BNB ETF on Nasdaq

Asset manager VanEck has launched the first U.S. exchange-traded fund offering spot exposure to $BNB, further expanding its crypto ETF offerings.

The VanEck $BNB ETF, trading under the ticker VBNB, began trading with shares backed by $BNB held in cold storage through custodian Anchorage Digital Bank, according to the company. The fund carries a sponsor fee of 0.39% and is listed on Nasdaq.

The ETF gives investors exposure to $BNB through traditional brokerage accounts without requiring them to buy or store the token directly. $BNB is the native token of $BNB Chain and is used to pay network transaction fees across the blockchain ecosystem.

VanEck said $BNB Chain processes more than 14 million transactions per day and supports over 2.5 million daily active users. The firm also cited Artemis data showing the network holds more than $16 billion in stablecoins and $3.6 billion in tokenized real-world assets.

The launch follows amended filings from VanEck and Grayscale tied to proposed spot $BNB ETFs.

Spot bitcoin ETFs launched in the U.S. in January 2024, followed later by spot ether ETFs. These have since seen their total net assets surge to $86.45 billion and $11.6 billion respectively, according to SoSoValue data. ETFs for other altcoins including SOL, DOGE, HYPE, and XRP have since also been launched.