Key Highlights
- VanEck files Amendment No. 2 to its S-1 for its BNB spot ETF, aiming to trade under ticker VBNB on Nasdaq.
- The ETF will hold BNB directly and track the MarketVector™ BNB Index, with possible future staking.
VanEck, a U.S.-based asset management firm, has filed a second amendment to its Form S‑1 registration statement with the Securities and Exchange Commission (SEC) for its proposed BNB spot ETF.
The November 21, 2025-dated filing reveals that the fund is set to trade under the ticker ‘VBNB’ and, upon approval, will be listed on the Nasdaq Stock Market. Given that S‑1 amendments generally reflect feedback from the SEC, this is viewed as a key development toward a prospective launch.
How the ETF will work
The fund aims to track the price performance of BNB tokens, minus operational expenses. It will hold BNB directly and follow the MarketVector™ BNB Index, which aggregates prices from what VanEck identifies as the top five BNB trading platforms.
VanEck also noted that the ETF may stake BNB in the future to generate rewards through third-party providers, although this isn’t guaranteed right away.
If approved, the ETF would let investors gain regulated access to BNB without purchasing the tokens directly on crypto exchanges. This can provide investors with more direct price exposure and may make BNB accessible through traditional brokerage accounts.
As per CoinMarketCap, BNB is currently priced at $853.38, reflecting a 1.59% increase in the last 24 hours and a 6.73% decline over the past week.
VanEck’s crypto ETF strategy
VanEck first filed for a spot BNB ETF in May 2025. This marked the first attempt to bring BNB to the U.S. ETF market. That filing also included the possibility of staking BNB for rewards.
The move is part of a broader push by VanEck into the altcoin ETF space. Just days ago, VanEck launched the Solana ETF (VSOL), which offers investors direct access to SOL tokens along with staking rewards that help secure the Solana network.
For the first $1 billion in assets, or until February 17, 2026, VanEck waived sponsor and staking provider fees for the Solana fund. Any assets above that threshold will incur a 0.30% fee.
Recent ETF launches
Overall, the U.S. crypto ETF space is heating up. Recently, Grayscale’s Dogecoin (GDOG) and XRP (GXRP) ETFs officially started trading on the NYSE today, following regulatory approval last Friday. Meanwhile, Franklin Templeton’s XRP ETF, called the Franklin XRP Trust (ticker: XRPZ), also went live on NYSE Arca.
The filing of VanEck’s BNB spot ETF, along with the recent launches of other crypto ETFs, highlights ongoing regulatory and market developments in U.S. crypto investment products.
