URNM ETF and Binance’s Perpetual Contract Track Different Markets

The Sprott Uranium Miners ETF (URNM) seeks to correspond generally to the total-return performance of the VettaFi Global Uranium Mining Index before fees and expenses. Binance’s URNMUSDT perpetual contract is a separate instrument tied to the ETF’s shares and margined in Tether (USDT).

URNM’s annual operating expenses are 0.75%. An Oct. 12, 2026, snapshot of the fund’s page listed an objective to invest at least 80% of total assets in securities of the VettaFi Global Uranium Mining Index.

Binance announced a planned launch for URNMUSDT on June 9, 2026, at 5:10 a.m. ET (09:10 UTC), identifying URNM as the contract’s underlying equity. The announcement describes a perpetual contract that tracks the ETF’s share price.

The ETF’s market price is based on the midpoint of its bid and ask at 4 p.m. ET. The perpetual contract has a separate funding mechanism: when its funding rate is negative, short-position holders pay long-position holders. That payment applies to positions in the contract and does not establish how URNM shares moved.