Asset manager VanEck has launched the first US exchange-traded fund offering spot exposure to BNB, expanding its crypto ETF offering.
The VanEck BNB ETF, trading under the symbol VBNB, began trading with BNB-backed shares held in cold storage through custodian Anchorage Digital Bank, according to the company. The fund has a sponsor fee of 0.39% and is listed on Nasdaq.
The ETF provides investors with exposure to BNB through traditional brokerage accounts without requiring them to purchase or store the token directly. BNB is the native token of BNB Chain and is used to pay network transaction fees in the blockchain ecosystem.
VanEck said BNB Chain processes over 14 million transactions per day and supports over 2.5 million daily active users. The company also cited data from Artemis showing that the network holds more than $16 billion in stablecoins and $3.6 billion in real-world tokenized assets.
The launch follows amended filings from VanEck and Grayscale related to the proposed BNB spot ETFs.
Spot bitcoin ETFs were launched in the United States in January 2024, followed later by spot ether ETFs. These have since seen their total net assets climb to $86.45 billion and $11.6 billion, respectively, according to SoSoValue data. Since then, ETFs for other altcoins, including SOL, DOGE, HYPE and XRP, have also been launched.
