VanEck launched the first US spot BNB exchange-traded fund on Thursday, giving investors regulated exposure to the Binance-linked cryptocurrency through traditional brokerage accounts.
The ETF, trading under the ticker VBNB, is physically backed by BNB (BNB) held in cold storage with a qualified custodian, according to the announcement. BNB is the native token of BNB Chain and is used to pay transaction fees across the network.
According to VanEck, the fund is designed to track the spot price of BNB and may later incorporate staking if the issuer determines it can do so without regulatory or legal complications.
VanEck described BNB Chain as one of the largest blockchain networks by daily active users and transaction activity, citing more than $16 billion in stablecoin supply and roughly $3.6 billion in tokenized real-world assets on the network.
Data from CoinGecko shows BNB has a market capitalization of roughly $85.5 billion, ranking it among the five largest cryptocurrencies globally. The token was last trading near $633, with daily trading volume approaching $874 million.
Source: CoinGecko
Related: BlackRock Bitcoin ETF sees near-record outflows as BTC dips below $75K
Crypto ETF issuers push deeper into altcoins and complex strategies
The introduction of VBNB comes as asset managers roll out crypto exchange-traded products tied to alternative blockchain networks, staking strategies and actively managed digital asset portfolios.
VanEck in January launched the first US-listed spot Avalanche ETF under the ticker VAVX, offering exchange-traded exposure to the AVAX (AVAX) token and potential staking-based yield. In April, crypto exchange Bitnomial launched the first US-regulated futures contracts tied to Injective’s INJ (INJ) token.
Source: 21Shares
The trend picked up pace this month with the launch of the first US Hyperliquid ETFs. On May 12, 21Shares debuted the THYP fund, followed two days later by Bitwise’s competing BHYP product.
While the Hyperliquid ETFs initially posted modest inflows, trading activity later accelerated, with the two funds recording nearly $41 million in combined trading volume and a 50% jump in activity just days after launch, according to SoSoValue data.
Beyond spot ETFs tied to altcoins, issuers have also increasingly moved into actively managed crypto funds. In recent months, firms including Goldman Sachs and Canada’s Hamilton ETFs have listed or filed applications tied to active Bitcoin (BTC) income strategies, crypto derivatives and yield-focused digital asset portfolios.
Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies?
Be the first to comment