What to know:
- VanEck BNB ETF launches as the first U.S. spot product tracking direct BNB prices.
- VBNB holds BNB in cold storage with Anchorage Digital Bank and charges a 0.39% fee.
- BNB Chain processes 14M daily transactions and supports over 2.5M daily active users.
VanEck officially debuted the VanEck BNB ETF on Thursday, providing U.S. spot exposure to BNB via an exchange-traded product. The fund trades under the ticker VBNB. It is the first U.S. product designed to follow direct BNB price movements for U.S. investor access.
According to a Financial Times report, the launch comes after a lengthy application process in the United States. VanEck originally filed for a BNB ETF back in May 2025. The firm submitted its recent amendment earlier this month, and Grayscale also updated its spot BNB ETF registration statement.
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VanEck BNB ETF Sets 0.39% Sponsor Fee
Staking is not included in both filings. VanEck removed staking from the proposal last November as uncertainty around U.S. regulations continued. However, conditional staking language remains in the documents, and that may be significant if regulators provide more direction in the future.
VBNB shares are backed by BNB held in cold storage. The fund prospectus lists Anchorage Digital Bank as the custodian. The BNB ETF’s total sponsor fee is 0.39%.
As of writing, BNB is trading around $630.58 on Thursday, according to CoinMarketCap. The token fell 3.29% in the past 24 hours. It also dropped by 2.87% in a weekly time frame amid the ongoing bear run across the broader crypto market.
BNB is the native token of BNB Chain. The ecosystem was originally incubated by Binance. BNB is the fourth largest cryptocurrency with a market value close to $84.9 billion.
However, VanEck Senior Investment Analyst Patrick Bush said that BNB is resilient in the last market cycle. He said the token was roughly flat over the past year. Several Layer 1 peers suffered larger drawdowns, he added.
BNB Chain Activity Supports VanEck ETF Launch
Bush attributed this performance to the activity on BNB Chain. He said the network processes more than 14 million transactions each day. He also mentioned that it has over 2.5 million active users per day.
The analyst also referred to assets on the network. He cited more than $16 billion in stablecoin supply. He also pointed to $3.6 billion worth of real-world assets on BNB Chain’s ecosystem.
The BNB ETF adds to VanEck’s spot crypto product line. The firm already has funds that are pegged to Bitcoin, Ethereum, Solana, and Avalanche. Those products are traded using the tickers HODL, ETHV, VSOL, and VAVX.
The launch follows a series of crypto ETFs for tokens other than Bitcoin and Ether being offered in the U.S. Recently, the products have been aimed at Solana, XRP, Litecoin, Avalanche, Dogecoin, Chainlink, Polkadot, HBAR, and Hyperliquid.
VanEck Director of Digital Assets Product Kyle DaCruz said BNB had lacked a U.S. spot ETP until now. The fund provides exchange-traded access to BNB for investors. He said the network is one of the most economically significant in digital assets.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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