- VanEck launched the first U.S. spot BNB ETF, trading under the ticker VBNB on Nasdaq.
- BNB holdings are backed by cold storage custody through Anchorage Digital Bank.
- Grayscale recently filed an amended S-1 for its own proposed BNB investment product.
- The launch expands the U.S. altcoin ETF market as issuers pursue regulated investment vehicles tied to major cryptocurrencies.
VanEck Debuts First U.S. Spot BNB ETF
Just launched: VanEck BNB ETF $VBNB
The first ETP offering spot exposure to @BNBCHAIN.
Prospectus: https://t.co/waP8LIQtd5 pic.twitter.com/JUQOIDDpkN
— VanEck (@vaneck_us) May 28, 2026
Asset manager VanEck has launched the first U.S. exchange-traded fund providing spot exposure to BNB, marking a new milestone in the expansion of cryptocurrency investment products in the United States.
The VanEck BNB ETF began trading on Nasdaq under the ticker VBNB. According to the company, the fund holds BNB directly, with assets secured in cold storage through Anchorage Digital Bank. The ETF carries a sponsor fee of 0.39%.
Patrick Bush, senior investment analyst at VanEck, highlighted the scale of activity on the BNB Chain, stating that the network processes approximately 14 million transactions daily and serves more than 2.5 million daily active users. Bush also noted that BNB has shown relative resilience compared with several major layer-1 cryptocurrencies during recent market declines.
Altcoin ETF Competition Continues to Expand
The debut of VBNB comes as competition among asset managers intensifies in the growing market for cryptocurrency ETFs tied to alternative digital assets.
Grayscale submitted an amended S-1 registration statement for its proposed BNB fund. Such amendments are commonly viewed as part of the regulatory review process and can precede future product launches or updates. While Grayscale has not announced a listing date, the filing represents another step toward expanding regulated BNB investment offerings in the U.S. market.
Recently, Grayscale filed an S-3 registration statement to convert its Zcash Trust into a spot ETF, seeking a listing on NYSE Arca under the ticker ZCSH. The launch also follows a broader trend of issuers seeking approval for investment products tied to major cryptocurrencies beyond Bitcoin and Ethereum. Asset managers have increasingly pursued funds linked to large-cap digital assets as regulatory pathways for crypto ETFs continue to develop.
BNB Joins Growing List of U.S. Crypto ETF Assets
VanEck’s latest product adds BNB to a growing list of cryptocurrencies that already have spot-style ETF products either trading or approved in the United States.
Kyle DaCruz, director of digital assets product at VanEck, said BNB had remained one of the few major cryptocurrencies without a U.S. spot ETF until now. Commenting on the launch, DaCruz said the new product provides investors with exchange-traded access to what he described as one of the most economically active blockchain ecosystems in the digital asset sector.
With the launch of VBNB, BNB joins cryptocurrencies including Ethereum, Solana, XRP, Avalanche, Litecoin, Polkadot, Hyperliquid, Hedera, Chainlink, and Dogecoin that have attracted ETF-related products or approvals in the United States.
Since the launch of U.S. spot Bitcoin ETFs in January 2024 and spot Ether ETFs later that year, the crypto ETF market has expanded significantly. According to SoSoValue data, the two categories have accumulated $86.45 billion and $11.6 billion in net assets, respectively, while ETF products tied to altcoins such as SOL, DOGE, HYPE, and XRP have also entered the market.
The launch represents the latest development in the evolution of the U.S. cryptocurrency ETF market, where issuers continue expanding beyond flagship digital assets and introducing investment vehicles tied to a broader range of blockchain networks.
