VanEck Registers Trust to Launch a Spot BNB ETF

VanEck has filed to list a spot BNB ETF, marking the first of its kind in the United States.

The investment manager has proposed establishing a trust in Delaware for the BNB ETF. If approved, this would be the first such product listed in the USA.

This registration serves as a preliminary step before submitting a formal application to the US Securities and Exchange Commission (SEC).

VanEck aims to lead in the crypto ETF category, having been among the first to issue ETFs on Bitcoin (BTC) and Ethereum (ETH) in the United States following their approvals in early 2024.

While VanEck is now pursuing a spot BNB ETF in the US, it is also awaiting responses for other applications. Last month, VanEck registered an ETF for Avalanche (AVAX) in the United States, indicating potential demand for a spot AVAX ETF.