VanEck Files for First Spot BNB ETF in U.S.

VanEck, a major U.S. asset manager, has filed an S-1 registration statement with the SEC to launch the first spot Binance Coin (BNB) ETF in the U.S., offering both institutional and retail investors direct, regulated exposure to BNB without requiring them to hold the token. The proposed ETF may include a staking component, potentially allowing investors to earn yield—a first among U.S.-listed crypto ETFs. This filing follows a wave of altcoin ETF applications after successful Bitcoin and Ethereum ETF launches, demonstrating growing institutional optimism for broader crypto adoption. BNB, trading near $600, serves as the native token for transaction fees, DeFi, and other applications within the Binance ecosystem and BNB Chain. The SEC has not yet indicated whether it will approve the ETF, but approval would further legitimize BNB in U.S. markets where Binance faces regulatory scrutiny. Recent BNB Chain upgrades, such as the integration of Model Context Protocol for AI and DeFi uses, further strengthen BNB's utility.