VanEck Seeks SEC Approval for First U.S.-Based BNB ETF with Staking Feature

In a significant move for the cryptocurrency investment landscape, asset management firm VanEck has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to launch the first exchange-traded fund (ETF) in the United States that would track Binance Coin (BNB). The filing, submitted on May 2, 2025, aims to provide investors with regulated exposure to BNB, the native token of Binance’s BNB Chain, without the need to directly purchase or manage the digital asset.

The proposed VanEck BNB ETF is designed to hold spot BNB tokens and may periodically stake a portion of its assets through reputable staking providers, pending regulatory approval. This staking feature would allow the fund to generate additional income for investors, setting it apart from existing crypto ETFs that typically do not include staking rewards. The inclusion of staking is particularly noteworthy, as the SEC under former Chair Gary Gensler had previously opposed such features. However, with the appointment of new Chair Paul Atkins, there is optimism that the regulatory body may adopt a more favorable stance toward staking in ETFs.

BNB, launched in 2017 by Binance, is currently the fifth-largest cryptocurrency by market capitalization, with a market cap of approximately $84 billion and a trading price around $597 as of May 6, 2025. The token serves as the backbone of the BNB Chain, a blockchain platform that supports smart contracts and decentralized applications. If approved, the VanEck BNB ETF would offer both institutional and retail investors a new avenue to gain exposure to BNB’s price movements and staking yields through a regulated financial product.

The SEC’s decision on the VanEck BNB ETF is still pending, and the approval process may take several months. Nonetheless, this filing represents a significant step toward expanding the range of cryptocurrency investment options available in the U.S. market. As the regulatory landscape continues to evolve, the outcome of this proposal could set a precedent for future crypto-related ETFs and the integration of staking features within them.