VanEck has officially filed for a BNB Exchange-Traded Fund (BNB ETF) in Delaware, marking a significant step forward in cryptocurrency investment. The filing, listed as 10148820, signals VanEck’s intent to introduce a regulated BNB investment product in the United States. If approved, this ETF will provide institutional and retail investors with a structured and compliant way to gain exposure to BNB’s market performance without directly holding the asset.
VanEck’s BNB ETF: A milestone for crypto adoption
The introduction of a BNB ETF in the U.S. demonstrates the increasing acceptance of cryptocurrencies within mainstream financial systems. While BNB-based Exchange-Traded Products (ETPs) have been available in Europe since 2019, this marks the first U.S.-based ETF dedicated to BNB. As institutional interest in crypto investment products grows, the potential approval of this ETF could enhance market liquidity and stability, setting a precedent for future altcoin ETFs.
BNB ETP adoption in Europe: A mixed success
Although VanEck’s filing is the first for the U.S. market, Europe has been a frontrunner in adopting BNB-based investment products. In October 2019, 21Shares, a leading European crypto asset manager, launched a BNB ETP in Switzerland. This product allowed European investors to gain indirect exposure to BNB within a regulated investment framework.
However, despite its early launch, the BNB ETP struggled to gain widespread adoption. According to CoinShares and TradingView, the 21Shares BNB ETP currently holds $15 million in assets under management (AUM)—a mere 0.3% of Switzerland’s total crypto AUM of $5.3 billion. Additionally, the product experienced significant outflows of approximately $580 million (537 million euros) in the past year, indicating investor uncertainty due to regulatory concerns and market volatility.
BNB: A leading crypto asset with institutional potential
Binance Coin (BNB) is the native cryptocurrency of the BNB Chain, a decentralized blockchain ecosystem designed for Web3 applications. Originally launched in July 2017 as an ERC-20 token on Ethereum, BNB has evolved into a multi-functional digital asset. It now powers transactions on the BNB Chain, supports decentralized applications (dApps), and is widely used within the Binance exchange ecosystem.
Currently, BNB ranks as the fifth-largest cryptocurrency by market capitalization, valued at approximately $88 billion according to CoinGecko. Its consistent market presence makes it an attractive asset for institutional investors. A regulated BNB ETF could provide a secure, structured investment vehicle, further integrating BNB into mainstream financial markets. However, regulatory scrutiny and market volatility remain key challenges for its future growth.
Rising Altcoin ETF Filings under Trump’s administration
VanEck’s BNB ETF filing is part of a broader trend where altcoin ETFs are gaining momentum in the United States. Since Donald Trump’s re-election in January 2025, ETF filings for alternative cryptocurrencies have surged. In March 2025, VanEck registered a Delaware trust entity for an Avalanche (AVAX) ETF, making it one of the first firms to propose such a product.
Additionally, at least nine companies filed for an XRP ETF with the U.S. Securities and Exchange Commission (SEC) as of March 12, 2025. This wave of filings reflects the increasing institutional demand for diverse crypto investment products. If the SEC approves VanEck’s BNB ETF, it could pave the way for similar altcoin ETFs, reinforcing the legitimacy of digital assets within the financial sector.
What’s next for VanEck’s BNB ETF?
While VanEck’s BNB ETF application represents a major step forward for crypto investment, regulatory approval remains uncertain. The SEC’s stance on crypto ETFs has been evolving, and concerns surrounding Binance’s regulatory history may play a role in the decision-making process. Investors should monitor regulatory updates and market trends closely as this development unfolds.
Conclusion: A turning point for Crypto ETFs?
If VanEck’s BNB ETF gains approval, it could mark a turning point for altcoin ETFs in the U.S.. By providing institutional investors with a compliant, structured way to invest in BNB, this ETF could enhance market stability, increase liquidity, and encourage broader crypto adoption. However, regulatory hurdles remain, and the final decision from the SEC will be crucial in shaping the future of BNB investment products.
For real-time updates on BNB ETF approvals, crypto market trends, and institutional adoption, stay tuned to our latest crypto investment insights.
