VanEck an American investment manager has taken a significant step toward launching the first Binance Coin (BNB) exchange-traded fund (ETF) in the U.S. by establishing a trust entity in Delaware. This move preempts a formal application to the SEC and signals an expansion in the firm’s cryptocurrency offerings which already include Bitcoin and Ethereum ETFs.

The newly filed VanEck BNB ETF aims to track the price of BNB now the fifth-largest crypto asset by market capitalization. BNB has maintained a steady trading value recently listed at approximately $608. With this ETF VanEck adds to its innovative portfolio which previously initiated standalone ETF registrations for Bitcoin Ether Solana and Avalanche.

Following the successful launch of its spot Bitcoin and Ethereum ETFs VanEck continues to pioneer in the crypto ETF space. Their consistent efforts to introduce diversified crypto products have established the company as a leading player in the market and the proposed BNB ETF further demonstrates VanEck’s commitment to enhancing crypto accessibility for U.S. investors.