Investment firm VanEck has submitted a request to U.S. regulators to launch an exchange-traded fund (ETF) that would track BNB, the native cryptocurrency of Binance’s BNB Chain, according to official filings.
The proposed fund would hold physical BNB tokens and may also allocate part of its holdings to staking through reliable providers, as stated in the ETF’s S-1 registration document. If approved, it would be the first ETF focused on BNB in the United States.
BNB currently has a market capitalization near $84 billion, based on CoinMarketCap figures. As of May 5, staking BNB yields around 2.5%, per Stakingrewards.com.
Binance’s BNB Chain is one of the top blockchain networks for smart contracts, with approximately $6 billion in total value locked (TVL), according to DefiLlama data.
Bitcoin ETF Momentum Could Influence Altcoins
This filing comes shortly after Binance co-founder Changpeng “CZ” Zhao suggested that the success of Bitcoin ETFs may eventually extend to other cryptocurrencies.
“This cycle is all about ETFs, especially for Bitcoin. Ether hasn’t seen as much traction yet, but Bitcoin’s momentum will trickle down to other tokens,” CZ reportedly said at the Token2049 event in Dubai.
Since their debut in January 2024, spot Bitcoin ETFs have attracted over $40 billion in net inflows, based on Farside Investors data.
More Altcoin ETF Applications on the Rise
VanEck’s move adds to the growing number of ETF proposals aimed at cryptocurrencies beyond Bitcoin. The U.S. SEC has received many applications since early 2024, covering a range of digital assets—from major layer-1 tokens like Solana to popular memecoins like Dogecoin.
VanEck has already sought approval for other crypto-related ETFs, including ones tied to Solana and Avalanche.
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