VanEck Registers Trust for Potential BNB ETF Launch in the US

VanEck Registers Trust for Potential BNB ETF Launch in the US

Fund manager VanEck has taken an initial step toward launching a potential exchange-traded fund (ETF) tied to Binance Coin (BNB), according to Delaware’s official corporate registry.

A newly listed entity named VanEck BNB ETF became active on March 31, as per records from the Delaware Division of Corporations. Registering a trust is typically one of the early formalities in the ETF development process, preceding the submission of a detailed application to the U.S. Securities and Exchange Commission (SEC).

If approved, VanEck’s fund would mark the first U.S.-based ETF to track BNB — the fourth-largest cryptocurrency by market cap, excluding stablecoins. Currently, European investors can gain exposure to BNB through the 21Shares Binance BNB ETP, which is listed on several exchanges across the continent.

This move follows VanEck’s March 14 filing of an S-1 registration statement for a proposed Avalanche ETF, which came shortly after its Delaware registration. The firm had previously submitted an application for a spot Solana ETF in June 2023, which the SEC officially acknowledged in February 2024.

Given past incidents of fraudulent filings — such as the fake “iShares XRP Trust” registered under BlackRock’s name in November 2023 — The Block has reached out to VanEck for confirmation regarding the authenticity of this BNB ETF registration.

Meanwhile, BNB is trading at $599.78, reflecting a 1.51% decline over the past 24 hours, according to The Block’s price tracker.