The company initially filed the application in May 2025. Subsequently, in November, VanEck removed the staking option and submitted the final application earlier this month. With a fee of 0.39%, BNB will be stored in cold wallets at Anchorage Digital Bank. VanEck had previously launched ETFs for Bitcoin (HODL), Ethereum (ETHV), Solana (VSOL), and Avalanche (VAVX). BNB became the last of the top 5 crypto assets by market capitalization to have a spot ETF in the US. BNB is the 4th largest cryptocurrency by market cap ($86 billion) and is supported by Binance. VanEck analyst Patrick Bush described BNB as one of the most resilient major cryptocurrencies in this market cycle. He noted that their blockchain is used daily by 2.5 million users with 14 million transactions.