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After the US Securities and Exchange Commission (SEC) approved spot exchange-traded fund (ETF) products based on Bitcoin (BTC) and Ethereum (ETH) in 2024, a flurry of new altcoin ETF applications emerged in early 2025. Many prominent asset management firms are vying for the approval of their ETF products, based on coins like XRP (XRP), Solana (SOL), Avalanche (AVAX) and others. Even some smaller-cap meme coins, specifically Pudgy Penguins' PENGU, have joined the SEC's ETF waiting list.
Given that most top cryptos already have their ETF applications filed with the country's financial regulator, it's little surprise that BNB Chain's BNB coin, the fifth-largest cryptocurrency by market capitalization, has joined the bandwagon. In late March 2025, the New York–based global investment management giant VanEck registered a trust entity named VanEck BNB ETF in the US state of Delaware. The registration is an early sign that the acclaimed investment manager is planning to lodge a BNB ETF application with the SEC.
If approved, it will be the first US-based BNB ETF product on the market, likely leading to significant growth within BNB Chain's already well-established ecosystem.
Key Takeaways:
A BNB Spot ETF is an exchange-traded fund product based on tracking the price of BNB coin, the native cryptocurrency of BNB Chain.
As of mid-April 2025, there's not yet an approved BNB ETF on the market. Investment management firm VanEck has recently registered a BNB ETF trust in the US state of Delaware, and plans to lodge a full application for the ETF's approval with the SEC.