VanEck Files to Launch BNB ETF in US, Eyes Staking for Yield

Highlights:

• VanEck has filed its S-1 to launch the first BNB ETF in the US.
• This ETF may also allow institutional staking as an additional yield.
• SEC approval delays affect overall sentiment on altcoin ETFs.

On May 2, VanEck submitted an S-1 registration to the SEC for launching a BNB ETF in the United States. The ETF seeks to provide direct cryptocurrency exposure to Binance Coin (BNB), the native token of the BNB Chain. If approved, this ETF would become the first BNB-focused fund to trade on a national exchange.

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VanEck created a Delaware-based trust in April in preparation for the fund’s launch. The ETF would own the physical BNB and institutional and retail investors would get access to the asset via a regulated vehicle. This does away with self-custody and crypto exchanges.

The fund will be priced on an index maintained by MarketVector Indexes GmbH, according to the filing. Information compiled by the index comes from only five BNB leading trading platforms offered by the sponsor. The ETF shall not engage in leverage, derivatives or speculative strategies.

VanEck just filed for a spot BNB ETF pic.twitter.com/yOanuNMyjp

— Eric Balchunas (@EricBalchunas) May 5, 2025

Staking Feature Proposed for Institutional Participants

A major detail included in the filing is the possibility of staking BNB held by the ETF. If approved by the SEC and the listing exchange, the fund should make staking possible to generate additional yield. It would also be the first for US-based crypto ETFs.

According to VanEck, trusted third-party validators or affiliated entities could manage staking services. Additionally, the fund may earn rewards from staking, which may be distributed for the benefit of institutional participants.

BNB staking helps the network operations, like validation and using blockchain applications on the BNB Chain. This facilitates the token to have extra utility, specifically for those who wish to obtain passive income. While the ETF may add staking in the future, it will not receive the benefits from hard forks, airdrops, or other token-related rights. All staking-related activity should occur only after necessary regulatory clearances.

Expansion of VanEck’s Digital Asset ETF Suite

VanEck’s proposed BNB ETF is the fifth crypto fund it has pursued with the SEC. There are previously filed ETFs, including those related to Bitcoin, Ethereum, Solana, and Avalanche. The BNB ETF is the firm’s latest effort to offer regulated access to digital assets beyond the top two cryptocurrencies.

The BNB ETF would create and redeem large blocks of its shares, called “baskets.” Authorized participants may settle these in cash or by BNB transfers. The operational model is similar to other spot crypto ETFs.

A combination of cold and hot storage will be used to secure the ETF’s holdings within a third-party custodian. Security breach coverage offered by insurance policies will be limited and does not extend to token utility or use fluctuations. The SEC continues to review this and other filings for an altcoin ETF, with a decision expected by mid-June. However, the BNB ETF is unique in that it might extend staking within a completely regulated structure.

The utility token of the BNB Chain ecosystem, BNB, did not react much positively following the announcement of the BNB ETF filing. BNB is trading at $599 with a surge of 2% on the daily chart. In addition, the market capitalization and trading volume stand at $84.50 billion and $1.47 billion, respectively.

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