VanEck has officially filed for a Spot BNB ETF, marking the first-ever attempt to launch an exchange-traded fund based on Binance’s native token, BNB. This move adds to the growing wave of altcoin ETF applications, generating fresh excitement across the crypto industry.
A New Chapter for Altcoin ETFs
While the SEC continues to focus heavily on Bitcoin ETFs, altcoins are starting to gain attention. Two weeks ago, there were already over 70 active ETF filings for various altcoins, highlighting growing confidence in eventual regulatory approval.
VanEck’s filing is a clear signal that BNB may be next in line to join this trend.
VanEck’s Strategic Steps Toward a BNB ETF
Before this public filing, VanEck quietly laid the groundwork by registering a statutory trust in Delaware — a typical first step for launching a crypto ETF. This follows a similar path the company took with its AVAX ETF filing in March.
Although the SEC’s stance on this specific ETF remains unclear, BNB’s status as a top-tier crypto asset might improve its odds. It ranks among the largest by market cap, which could help its case.
Changing Sentiment Around BNB
Just last year, BNB faced skepticism due to Binance’s legal issues in the U.S., leading some exchanges to delist it. However, the sentiment is shifting. Platforms like Kraken have resumed support, and BNB’s price showed upward momentum even before VanEck’s filing was announced.
This rebound signals a renewed belief in the token’s long-term viability — especially in the eyes of institutional investors.
ETF Buzz and Industry Insight
ETF expert Eric Balchunas observed that both Changpeng Zhao (CZ) and Jan Van Eck attended the Token2049 event, though they didn’t appear together. CZ emphasized that while Bitcoin is leading the ETF race, altcoins are gaining ground and just need more time.
As he put it:
“This cycle so far has been the ETFs. And it’s almost all Bitcoin. Ether hasn’t had as much success, but Bitcoin success will spill over to the others eventually.”
What’s Next for the BNB ETF?
Right now, the outcome of the BNB ETF filing is uncertain. The SEC is expected to take its time — possibly delaying most decisions until October. Still, the momentum behind altcoin ETF applications is undeniable.
BNB’s increasing institutional interest, paired with VanEck’s initiative, positions it as a strong contender in the next wave of crypto-backed ETFs.
