VanEck Submits Application for a Spot BNB ETF: Will It Outperform XRP to Be the Next ETF?
Investment giant VanEck has filed for a new ETF aimed at tracking the Binance-connected BNB cryptocurrency, raising expectations in the market.
VanEck Submits Application for a Spot BNB ETF: Will It Outperform XRP to Be the Next ETF?
Leading investment company VanEck has submitted an application to register a Delaware trust for an exchange-traded fund (ETF) that tracks the Binance-linked BNB digital asset.
On March 31, VanEck officially registered the entity named ‘VanEck BNB ETF’ in Delaware, as confirmed by public records on the Delaware state website.
BNB ETF filing by VanEck
— CZ 🔶 BNB (@cz_binance) April 2, 2025
A BNB ETF Could Provide Some Good News To Halt Its -5% Slide In The Past Week.
According to Delaware state documents, filing number 10148820 shows that VanEck has registered this entity as a corporate trust service company hinting at a potential spot BNB ETF in the U.S. VanEck emerges as the first company to consider a Spot BNB ETF in the U.S., indicating a possible growth of the BNB Chain, previously known as Binance Chain, within traditional financial markets.
As Binance faces challenges maintaining market position against the EU’s MiCA regulations, it may benefit from positive developments like the VanEck Spot ETF filing to reignite interest for its BNB token, which has taken a hit and is down roughly 5% over the past week. Investors are hopeful that the ETF news could reverse the trend for this fifth-ranked digital asset, which CoinGecko values at $87.7 billion, still far from Ripple (XRP) which has over $123 billion.
If BNB gains a spot ETF listing in the U.S. before XRP, it could potentially leap ahead of the Ripple blockchain’s native token.
Image (COINGECKO)
BNB ETP Product Already Exists Across The Pond In Europe
While VanEck is positioning itself as the first mover for a BNB ETF in the United States, similar products have been actively traded in Europe for years. Notably, 21Shares, a prominent crypto asset manager in Europe, launched a BNB exchange-traded product (ETP) in Switzerland in October 2019. TradingView data reveals that the 21Shares BNB ETP currently holds $15 million in assets under management (AUM), representing a mere 0.3% share of Switzerland’s total crypto AUM, currently standing at $5.3 billion as of March 28, as reported by CoinShares. The product has evidently struggled with fund flows, totaling 537 million euros, or about $580 million over the past year.
VanEck On An ETF Filing Spree
🚨 🚨 BREAKING NEWS:
Down to a $1.5 trillion AUM, Franklin Templeton is looking into launching XRP and other crypto ETPs in Europe as part of its latest investment portfolio. 🪙 🇪🇺
Franklin Templeton also filed two XRP ETFs with the U.S. SEC and CBOE. #XRP #RLUSD #XRPETF 💎💎💎💎💎💎💎💎💎💎 pic.twitter.com/3HZAJP4jDA — Kenny Nguyen (@mrnguyen007) April 2, 2025
VanEck’s BNB ETF trust filing represents just a segment of fresh U.S. altcoin ETF applications introduced following Donald Trump’s presidential inauguration in January. Earlier in March, they similarly filed for a Delaware trust aimed at tracking Avalanche (AVAX), thereby being a forerunner in this registration effort.
Interestingly, VanEck is absent from the ranks of the nine firms that have recently sought a Ripple (XRP) ETF. Notable asset managers such as Grayscale, CoinShares, 21shares, Bitwise, Canary Capital, ProShares, Franklin Templeton, and Volatility Shares are part of this listing.
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