VanEck Launches First U.S. Spot BNB ETF 'VBNB'

Foresight News reports that asset management company VanEck launched the VanEck BNB ETF (VBNB) on Thursday, marking the first exchange-traded product in the U.S. designed to provide spot exposure to BNB price fluctuations. According to the fund's prospectus, shares of VBNB are physically backed by BNB stored in cold storage at Anchorage Digital Bank and carry a 0.39% sponsor fee. VanEck initially filed for the BNB ETF application in May 2025 and submitted the latest amendment earlier this month, alongside an updated registration statement from another asset management company, Grayscale, which is also seeking approval for its own spot BNB ETF. Neither filing includes staking functionality at launch. VanEck removed this feature from its proposal in November last year due to regulatory uncertainties in the U.S., although the proposal does include provisions for conditional staking.