Asset Manager VanEck to Launch First Binance Coin (BNB) ETF in the U.S.

American investment manager VanEck has undertaken preliminary action towards the potential launch of a Binance Coin (BNB) exchange-traded fund (ETF) by filing to establish a trust entity in Delaware. This strategic move signifies a preparatory measure in the intricate ETF launch process, typically preceding the formal application submitted to the Securities and Exchange Commission (SEC).

VanEck is trying to launch the first BNB ETF in the US. Although there are BNB investment options like the 21Shares Binance BNB ETP, they are not US-based ETFs.

VanEck Files for Binance Coin (BNB) ETF

The company, which manages about $115 billion, officially registered the new product on March 31 as the VanEck BNB ETF. According to Delaware state records, filing number 10148820 shows it is a trust company.

This makes BNB the fifth cryptocurrency, along with Bitcoin, Ether, Solana, and Avalanche, for which VanEck has started a separate ETF registration in Delaware. VanEck’s Bitcoin and Ether ETFs began trading last year after SEC approval.

The planned BNB ETF will track the price of BNB, which is currently the fifth-largest crypto asset by market size. According to CoinGecko, BNB was trading at around $608 at the time of this report, with little price change in the last 24 hours.

VanEck filed for a Solana ETF in June 2024, the first in the US. Since then, VanEck and other companies like 21Shares have made more filings, including the 19b-4 form, to get approval. Last month, VanEck asked the SEC to approve the first AVAX ETF, building on its success with Bitcoin and Ethereum ETFs.

VanEck is a major player in the growing crypto ETF market, as it was the first to file for a Bitcoin futures ETF in 2017.

VanEck Registers for Avalanche ETF,

Earlier this month, on March 11, VanEck registered an Avalanche ETF in Delaware on March 10, a move interpreted as a precursor to a potential spot AVAX ETF application with the SEC.The announcement seemed to stabilize AVAX’s price amidst a broader market downturn, temporarily arresting its decline.

AVAX, which had earlier plummeted to $15, recovered to $17 at the time of reporting, demonstrating signs of resilience. The potential for a spot Avalanche ETF filing by VanEck could further bolster the positive sentiment surrounding the altcoin.

Beyond price recovery, Avalanche has also witnessed increased adoption rates. On March 7, 2025, financial analyst Miles Deutscher highlighted a notable surge in Avalanche’s monthly new users during Q1 2025, signaling growing network engagement and utilization.