VanEck Files for BNB ETF in U.S.
2min read VanEck has officially filed for a BNB ETF in Delaware, marking a significant development in the crypto investment landscape. The filing, listed as 10148820, indicates VanEck's intention to introduce a regulated BNB investment product in the United States. If approved, this ETF will enable institutional and retail traders to gain exposure to BNB's market performance without directly holding the asset. This move underscores the growing acceptance of cryptocurrencies within traditional financial systems and could set a precedent for future altcoin ETFs.
The filing occurs as the crypto market evolves rapidly, with major companies exploring new opportunities in digital asset investments. While BNB-based exchange-traded products (ETPs) have been available in Europe since 2019, this is the first U.S.-based ETF dedicated to BNB. As institutional demand for crypto assets increases, the potential approval of VanEck’s BNB ETF could encourage the integration of altcoins into mainstream financial markets, boosting liquidity and market stability.
While VanEck’s filing is the first for the U.S. market, Europe has been ahead in adopting BNB-based investment products. In October 2019, 21 Shares, a prominent European crypto asset manager, launched a BNB ETP in Switzerland. This product has provided European investors with the opportunity to gain indirect exposure to BNB’s market movements within a regulated investment framework. However, despite its early entry, the BNB ETP did not gain significant adoption in Europe.
According to CoinShares and TradingView, the 21 Shares BNB ETP currently holds $15 million in assets under management (AUM), representing just 0.3% of Switzerland’s total crypto AUM of $5.3 billion. Additionally, the product experienced fund outflows amounting to $580 million in the previous year. These figures suggest that while there is interest in BNB investment vehicles, investor sentiment remains uncertain due to regulatory concerns and market volatility. If VanEck’s ETF gains approval, it may offer a more robust investment structure for U.S. traders.
BNB (Binance Coin) is the native cryptocurrency of the BNB Chain, a decentralized blockchain ecosystem designed for Web3 applications. It was launched in July 2017 as an ERC-20 token on Ethereum, initially to incentivize merchants. Since then, BNB has evolved into a multi-purpose digital asset, fueling transactions in the BNB Chain and supporting decentralized applications (dApps).
Currently, BNB is the fifth largest cryptocurrency with a market capitalization of approximately $88 billion. Its consistent market presence makes it a strong candidate for institutional investments. A BNB ETF could provide investors with a regulated and structured way to gain exposure to the asset, solidifying its place in crypto investment trends. However, despite its robust fundamentals, BNB’s market outlook remains challenged by volatility, regulatory scrutiny, and competition from emerging blockchain ecosystems.
VanEck’s BNB ETF submission is part of a broader trend where altcoin ETFs are gaining traction in the United States. Since January 2025, there has been an increase in ETF filings for various cryptocurrencies. In March 2025, VanEck registered a Delaware trust entity for an Avalanche (AVAX) ETF, making it one of the first organizations to propose such a product. This demonstrates the increasing willingness of enterprises to explore regulated crypto investments.
Additionally, at least nine companies have filed for an XRP ETF with the SEC as of March 12. This surge in altcoin ETF filings highlights the growing institutional demand for various crypto exposures. If the SEC approves VanEck’s BNB ETF, it could open doors for similar altcoin investment products, strengthen crypto-market trends, and enhance the legitimacy of digital assets within the financial sector. However, regulatory challenges continue to be a major hurdle, and investors must closely monitor developments.
