Vaneck’s Vaneck BNB ETF began trading on the Nasdaq under ticker VBNB with $1.02 million in initial net assets. The fund provides U.S. brokerage investors regulated exposure to BNB, the native cryptocurrency of the BNB Chain. The prospectus states the ETF is physically backed by actual BNB held in cold storage by Anchorage Digital Bank, a federally chartered digital asset bank. This structure is designed to mirror spot ETF models so investors can track BNB price without managing private keys or using offshore exchanges. Launch comments emphasized BNB’s resilience and its prior lack of a U.S. spot ETP. BNB initially traded slightly below $634 amid broader macro headwinds, while staking language reserved potential future staking-related yield features.
"Vaneck’s VBNB fund debuted on the Nasdaq on May 28 with $1.02 million in initial net assets. Anchorage Digital Bank provides custody for the BNB tokens as Wall Street expands its ETF lineup. With VBNB now live, Vaneck may push to activate built-in staking yields in the near future."
"As of Thursday, standard U.S. brokerage accounts can now gain direct, regulated exposure to BNB, the native cryptocurrency of the Binance-linked BNB Chain. According to the fund's prospectus, VBNB is physically backed by actual BNB held in cold storage by Anchorage Digital Bank, a federally chartered digital asset bank. This structure mirrors the established spot ETF models, allowing investors to track the asset's price without the need to manage private keys or navigate offshore cryptocurrency exchanges."
"BNB has been one of the most resilient major cryptocurrencies through the recent market cycle, Patrick Bush, Senior Investment Analyst with Vaneck, stated during the launch, while Kyle DaCruz, Director of Digital Assets Product at Vaneck, echoed a similar sentiment, noting, Until today, BNB stood out among major crypto assets as one of the few not yet available in a U.S. spot ETP."
"The Market Reaction Was Swift Former Binance CEO Changpeng Zhao took to X to celebrate the milestone, stating, The first BNB spot ETP. Slowly but surely. Despite the institutional validation, the broader crypto market faced significant macroeconomic headwinds, causing BNB to slip slightly and trade below $634 per unit, failing to immediately capitalize on the Nasdaq listing momentum."
Read at news.bitcoin.com
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