VanEck has launched the first spot ETF for BNB in the US, giving American investors access to the cryptocurrency through regular brokerage accounts.
The fund began trading on Thursday under the ticker VBNB. The fund is backed by real BNB coins, which are stored in cold storage with a custodian. BNB itself is the main token of the BNB Chain ecosystem. It is used to pay fees and interact with applications within the network.
VanEck says the fund should track the market price of BNB as closely as possible to the spot market. The company is also considering a staking option if regulators do not impose additional restrictions.
The company separately highlighted the scale of the BNB Chain ecosystem. According to VanEck, the network remains one of the largest by number of active users and transaction volume. Currently, more than $16 billion in stablecoins circulate in the network, and the volume of tokenized real-world assets (RWA) reaches about $3.6 billion.
According to CoinGecko, BNB‘s market capitalization is about $85.5 billion, keeping the asset among the five largest cryptocurrencies in the world.
At the time of publication, BNB was trading around $633, and daily trading volume was approaching $874 million.
BNB price performance. Source: CoinGecko
The expansion of the crypto-ETF lineup is not limited to just BNB. Asset managers are increasingly launching products related to altcoins, staking, and more complex investment strategies.
Back in January, VanEck introduced the first spot ETF for Avalanche in the US under the ticker VAVX. The fund gives investors access to AVAX through the exchange and may potentially earn staking income. In April, the Bitnomial exchange launched the first regulated US futures on the INJ token from Injective.
See also: US Authorities Transferred Seized Alameda Tokens to Coinbase Prime
In May, the pace only accelerated. The first ETF products related to the Hyperliquid ecosystem entered the market. First, 21Shares launched the THYP fund, and two days later, Bitwise introduced the competing product BHYP.
Initially, interest in the new funds was moderate, but then activity began to grow rapidly. According to SoSoValue, the combined trading volume of the two Hyperliquid ETF products approached $41 million, and turnover jumped by about 50% in just a few days.
At the same time, the market is gradually moving beyond traditional spot ETF products. More and more companies are betting on actively managed crypto funds.
In recent months, Goldman Sachs and Canadian Hamilton ETFs have introduced or filed applications for products focused on yield strategies with bitcoin, crypto derivatives, and digital asset portfolios with an emphasis on generating returns.
