VanEck Files for Spot BNB ETF in the US, Aiming to Be First

VanEck initiated efforts to launch the first US-based spot exchange-traded fund (ETF) tracking the BNB token on March 31. The asset manager registered a legal entity named VanEck BNB ETF with the Delaware Division of Corporations. If approved, the ETF would mirror BNB's market performance, which currently trades around $602 with an $86 billion market capitalization, according to CryptoSlate data. This move follows the successful rollout of spot Bitcoin ETFs and increased interest in altcoin ETFs.