Binance’s native token is one of the largest cryptocurrencies by market capitalization
VanEck has submitted a new proposal to US regulators to launch an exchange-traded fund (ETF) focused on BNB, the native token of Binance’s BNB Chain. If approved, this would mark the first time a BNB-based ETF is introduced in the US. The fund aims to hold actual BNB tokens and may also stake a portion of its assets with reliable staking providers, offering potential passive income through token yields.
BNB is one of the largest cryptocurrencies by market capitalization, currently valued at around $84 billion. The token operates on Binance’s BNB Chain, a widely used smart contract platform that has attracted close to $6 billion in total value locked, according to data from DefiLlama. As of early May, BNB stakers are earning a return near 2.5%, making staking an added benefit for ETF investors if the fund chooses to include it.
The timing of VanEck’s filing is drawing attention, coming on the heels of growing optimism in the broader crypto ETF market. Following the success of spot Bitcoin ETFs, which have pulled in over $40 billion in net inflows since January 2024, there’s increasing speculation that investor interest could extend to other major cryptocurrencies. Binance co-founder Changpeng “CZ” Zhao recently suggested that this momentum could carry over to altcoins like BNB.
VanEck is already active in the crypto ETF space, having recently filed proposals for ETFs based on Solana and Avalanche. Their move to include BNB signals a broader push to give investors more traditional avenues to gain exposure to leading blockchain tokens.
The US Securities and Exchange Commission has not yet approved any altcoin ETFs, but filings continue to increase, showing a growing effort by asset managers to expand options in the crypto investment landscape.
