VanEck Files to List a BNB ETF in Delaware, Opening Up the Crypto Investment Landscape to US Investors

VanEck officially filed a BNB ETF in Delaware, marking a significant improvement in the crypto investment landscape. The filing, listed below as 10148820

"A significant development in the crypto investment landscape unfolded as VanEck, a leading investment firm, has officially filed for a BNB ETF in Delaware.

The filing, numbered 10148820, marks a key milestone as it signals VanEck’s intention to introduce a U.S.-based ETF focused on the world’s fifth-largest cryptocurrency.

This ETF, if approved, will allow institutional and retail traders to gain structured exposure to BNB’s market performance without needing to directly maintain the asset.

The move underscores the growing acceptance of cryptocurrencies within traditional economic systems and may set a precedent for future altcoin ETFs.

“This filing is for a trust to hold the interests of a U.S.-based exchange-traded fund (ETF) that will invest in a full-coverage basket of major cryptocurrencies,” a statement by VanEck reads.

“The firm is known for being one of the first to file for a Bitcoin ETF back in 2015, which was later withdrawn due to regulatory hurdles at the time.”

This filing marks a key development in the U.S. crypto market. While Europe has seen the launch of BNB-based exchange-traded products (ETPs) since 2019, this is the first time a U.S.-based ETF is being proposed specifically for BNB.

As institutional demand for crypto assets continues to rise, the potential approval of VanEck’s BNB ETF may encourage the integration of altcoins into mainstream financial markets, ultimately boosting liquidity and stability.

Existing BNB Exchange-Traded Products in Europe

While VanEck’s filing is the first of its kind for the U.S. market, Europe has been at the forefront in adopting BNB-based investment products. 21 Shares, a prominent European crypto asset manager, brought a BNB ETP to Switzerland in October 2019.

This product provides European investors with the opportunity to gain indirect exposure to BNB’s market movements within a regulated investment structure. However, despite its early launch, the BNB ETP did not witness widespread adoption in Europe.

According to data from CoinShares and TradingView, the 21 Shares BNB ETP currently has $15 million in assets under management (AUM), which constitutes a small portion of Switzerland’s total crypto AUM, amounting to $5.3 billion.

Moreover, the product experienced fund outflows totaling $580 million (537 million euros) in the past year. These figures suggest that while there is interest in BNB investment vehicles, investor sentiment remains fluid due to regulatory concerns and market volatility.

If VanEck’s ETF gains approval, it could provide a more robust investment structure for U.S. traders, potentially leading to increased capital inflows into BNB and other altcoins within the world’s largest economy.

BNB: A Look at the Crypto Asset and Its Market Standing

In the rapidly evolving landscape of cryptocurrency, BNB (Binance Coin) stands out as the native cryptocurrency of the BNB Chain, a decentralized blockchain ecosystem designed for Web3 applications.

Launched in July 2017 as an ERC-20 token on Ethereum, primarily to encourage merchants to accept crypto payments, BNB was created by a team of blockchain enthusiasts with diverse technical and business backgrounds.

Initially conceived as an accelerator for blockchain startups, BNB quickly gained recognition for its role in fostering innovation within the decentralized ecosystem.

The project began as an exchange token for Binance, one of the world’s leading cryptocurrency exchanges, which was founded earlier that year.

Over time, BNB has evolved into a multi-purpose digital asset, facilitating transactions on the BNB Chain and powering decentralized applications (dApps) that are transforming various industries.

Currently, BNB is the fifth largest cryptocurrency, boasting a market capitalization of around $88 billion according to CoinGecko. Its consistent presence in the market makes it a strong candidate for institutional investments, which are becoming increasingly interested in the crypto space.

A BNB ETF could provide investors with a structured and regulated way to gain exposure to the asset, further solidifying its place in crypto investment trends. However, despite strong fundamentals, BNB’s market performance in the coming months will be influenced by several factors.

These include the level of volatility in broader crypto markets, regulatory developments that could impact crypto ETFs, and competition from other emerging blockchain ecosystems.

Rising Altcoin ETF Filings After Donald Trump’s Re-Election

VanEck’s filing for a BNB ETF is part of a broader trend where altcoin ETFs are gaining momentum in the United States. Following Donald Trump’s re-election in January 2025, there has been an increased pace of ETF filings for popular cryptocurrencies.

In March 2025, VanEck registered a Delaware trust entity for an Avalanche (AVAX) ETF, making it among the first organizations to propose such a product. This highlights the growing willingness of firms to apply for approval to launch