VanEck Launches First US Spot BNB ETF on Nasdaq
Asset manager VanEck has launched the first US exchange-traded fund offering spot exposure to BNB, the native token of BNB Chain. The VanEck BNB ETF, trading under the ticker VBNB on Nasdaq, began trading with shares backed by BNB held in cold storage via custodian Anchorage Digital Bank. The fund carries a sponsor fee of 0.39% and allows investors to gain BNB exposure through traditional brokerage accounts without needing to directly buy or store the token. VanEck stated that BNB Chain processes over 14 million transactions daily and supports more than 2.5 million daily active users. The launch follows amended filings from VanEck and Grayscale for proposed spot BNB ETFs. This expansion comes after the successful launches of spot bitcoin ETFs in January 2024 and spot ether ETFs, which have amassed $86.45 billion and $11.6 billion in net assets, respectively. Other altcoin ETFs for SOL, DOGE, HYPE, and XRP have also been introduced.
Key facts
- VanEck launched first US spot BNB ETF (VBNB) listed on Nasdaq
- Fund backed by cold-stored BNB via Anchorage Digital Bank, 0.39% fee
- Provides BNB exposure without direct token purchase or storage
- Follows success of spot bitcoin and ether ETFs in the US