VanEck has submitted a filing to the US Securities and Exchange Commission (SEC) for a spot BNB exchange-traded fund (ETF). If approved, the fund would hold BNB tokens and allow staking of the assets in custody – an approach not yet permitted in any US-listed crypto ETF.
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Staking Feature
The proposed BNB ETF would enable staking of the tokens held in trust, allowing the fund to generate additional yield. This approach has already gained traction internationally: last month, Canada approved a Solana ETF that includes staking. In the US, however, staking remains off-limits for regulated ETFs.
Several pending Ethereum ETF applications include staking, but the SEC has recently delayed decisions on those proposals. The issue of staking continues to be a regulatory sticking point. If eventually permitted, Ethereum is widely expected to be the first asset allowed to offer staking in a US-listed ETF. That would likely set a precedent for other tokens, including BNB.
More ETF Filings Incoming
VanEck’s BNB proposal comes amid a growing number of crypto ETF applications this year. In addition to Bitcoin and Ethereum products, asset managers have filed for ETFs covering a broad range of altcoins and structured crypto funds.
The market expects that ETFs for major coins like Solana, XRP, Cardano, and Litecoin could be approved before the end of 2025. Beyond that, filings also include smaller altcoins, memecoins, leveraged versions of popular tokens, and even full crypto index funds.
Read also: Nasdaq Files For Avalanche (AVAX) ETF – But Can It Lift the Price?
Next Steps
The SEC has not yet indicated when it will rule on VanEck’s BNB ETF. If approved, it would be the first US-based product offering direct exposure to BNB and staking income.
Still, many expect that the approval of spot ETFs for assets like Solana or XRP (which already have leveraged versions cleared) will likely come first, creating the regulatory path for other products such as the proposed BNB fund.
Read also: Brazil Launches First Spot XRP ETF – Will Others Follow?
