VanEck Advances U.S. BNB Spot ETF With New S-1 Amendment

VanEck has filed a second amendment to its Form S-1 registration statement with the U.S. Securities and Exchange Commission as it seeks approval to launch the first U.S.-based BNB spot ETF.

The updated filing, dated November 21, 2025, indicates that the fund will trade under the ticker VBNB on the Nasdaq Stock Market. Industry observers view the amendment as a key milestone, as such updates generally reflect feedback from the SEC during the review process.

The ETF is designed to track BNB’s market performance while holding the token directly, following the MarketVector BNB Index, which aggregates prices from the top five BNB trading venues identified by VanEck. The firm also stated that staking could be introduced later through external providers, although it is not guaranteed at launch.

VanEck first proposed a BNB spot ETF in May 2025, becoming the first issuer to pursue such a product in the U.S. The company has been aggressively expanding its altcoin ETF strategy, recently launching the Solana ETF (VSOL), which includes staking rewards and fee waivers for early assets.

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