VanEck Eyes BNB ETF Launch After BTC, ETH Product Success

Investment manager VanEck has registered to list an exchange-traded fund tracking BNB, the native cryptocurrency of the Binance-linked BNB Chain.

The New York-based firm has proposed the establishment of a trust in Delaware for a BNB ETF, a preliminary step to a formal application with the U.S. Securities and Exchange Commission (SEC).

VanEck's BNB ETF, if approved, would be the first such product listed in the U.S.

The company was among the first issuers of bitcoin (BTC) and ether (ETH) ETFs in the U.S. following their approval in January and July 2024 respectively.

VanEck has also registered to list ETFs tracking the native tokens of Solana (SOL) and Avalanche (AVAX).

BNB is priced at just over $603 at the time of writing, little changed in the hours since the first reports of VanEck's plans.