The physically backed fund gives US investors exchange-traded exposure to the Binance-linked cryptocurrency through traditional brokerage accounts.
VanEck launched the first US spot BNB exchange-traded fund on Thursday, giving investors regulated exposure to the Binance-linked cryptocurrency through traditional brokerage accounts.
The ETF, trading under the ticker VBNB, is physically backed by BNB (BNB) held in cold storage with a qualified custodian, according to the announcement. BNB is the native token of BNB Chain and is used to pay transaction fees across the network.
According to VanEck, the fund is designed to track the spot price of BNB and may later incorporate staking if the issuer determines it can do so without regulatory or legal complications.
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