VanEck has taken the first step toward launching a BNB ETF by filing a trust in Delaware.
BNB ETF: A New Opportunity by VanEck
VanEck has officially filed to establish a Delaware Trust, a crucial precursor to launching its BNB ETF. The filing, submitted on March 31, 2025, sets the stage for a fund that will acquire BNB from the spot market, hold it in trust, and issue shares to investors as an ETF.
Significance of BNB ETF for the Market
BNB currently holds the position of the fourth-largest altcoin and fifth-largest cryptocurrency with an $85 billion market cap. It plays a vital role in the Binance ecosystem, offering staking opportunities, collateral use, liquidity provision, fee payments on Binance, and transactions on the BNB blockchain. The resolution of Binance’s regulatory issues in the U.S. may ease the launch of the BNB ETF.
Comparison with Other Crypto ETFs
While Bitcoin ETFs have thrived, Ethereum ETFs struggled due to restrictions on staking, which could be a crucial revenue source for ETF investors. For a BNB ETF to perform well, SEC approval for staking would be pivotal. Without it, investors may find it more advantageous to purchase BNB directly through centralized or decentralized exchanges.
VanEck is actively expanding its presence in the crypto ETF space, developing products not only for Bitcoin and Ethereum but now also for Solana and BNB. Their efforts may impact the further development of the cryptocurrency market post the May 2025 Federal Reserve meeting.
