Asset manager VanEck launched the first US exchange-traded fund offering spot exposure to BNB, further expanding its crypto ETF offering.
The VanEck BNB ETF, which trades 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 offers investors exposure to BNB through traditional brokerage accounts without requiring them to purchase or hold the token directly. BNB is the native token of the BNB Chain and is used to pay network transaction fees across the blockchain ecosystem.
VanEck said BNB Chain processes more than 14 million transactions per day and supports more than 2.5 million daily active users. The firm 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 linked to BNB’s proposed spot ETFs.
Spot bitcoin ETFs were launched in the US in January 2024, followed later by spot ether ETFs. Since then, their total net assets have increased to $86.45 billion and $11.6 billion respectively, according to data from SoSoValue. Since then, ETFs have also been launched for other altcoins, including SOL, DOGE, HYPE, and XRP.
