VanEck Files for First-Ever Spot BNB ETF in U.S. Amid Surging Crypto ETF Demand

VanEck has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch the first U.S.-based exchange-traded fund (ETF) tracking the spot price of Binance Coin (BNB). According to the S-1 registration statement filed Monday, the proposed fund would offer investors direct exposure to BNB without requiring them to hold the asset themselves.

This move marks the first time a major asset manager has sought regulatory approval for a spot BNB ETF in the U.S., signaling growing institutional interest in Binance Coin. BNB is the native token of Binance, the world’s largest centralized cryptocurrency exchange by trading volume, according to CoinGecko. It’s used to pay trading fees, access decentralized applications, and purchase goods and services within the Binance ecosystem.

At the time of writing, BNB is trading at $599, up nearly 2% in the past 24 hours. The proposal comes amid heightened investor appetite for digital asset-based investment products, particularly following strong inflows into Bitcoin ETFs. U.S.-based Bitcoin ETFs attracted $1.8 billion last week alone, with total spot Bitcoin ETF assets reaching $112 billion. Ethereum ETFs have also seen steady, albeit smaller, inflows.

The regulatory push follows the 2024 election of President Donald Trump, whose family maintains financial ties to the crypto sector. Since then, firms have rushed to file for ETFs tied to various crypto assets, including Solana, Dogecoin, BONK, and even NFTs.

While VanEck is the first to propose a BNB ETF in the U.S., Switzerland’s 21Shares has offered a Binance BNB ETP in Europe since 2019, listed on multiple exchanges. VanEck’s application underscores the growing momentum behind crypto ETFs as investor demand continues to surge.