Asset manager VanEck has launched the first US exchange-traded fund to offer spot exposure to BNB, further expanding its crypto ETF offerings.
The VanEck BNB ETF, which trades under the ticker VBNB, began trading shares backed by BNB held in cold storage through custodian Anchorage Digital Bank, according to the company. The fund carries a sponsorship fee of 0.39% and is listed on the Nasdaq.
The ETF gives investors exposure to BNB through traditional brokerage accounts without requiring them to buy or hold the token directly. BNB is the native symbol for 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 over 2.5 million daily active users. The firm also cited Artemis data showing the network has more than $16 billion in stablecoins and $3.6 billion in real-world tokenized assets.
The launch follows amended filings from VanEck and Grayscale relating to proposed spot BNB ETFs.
Spot bitcoin ETFs launched in the US in January 2024, followed later by spot ether ETFs. These have since seen their combined net assets rise to $86.45 billion and $11.6 billion, respectively, according to SoSoValue data. ETFs for other altcoins including SOL, DOGE, HYPE and XRP have since been launched as well.
