VanEck has introduced the VanEck BNB ETF (VBNB), marking the first spot BNB exchange-traded fund available in the United States. The ETF, launched on Thursday, provides investors with direct exposure to BNB prices, backed by physical BNB stored in a cold wallet at Anchorage Digital Bank. The fund carries a management fee of 0.39% and, while it currently lacks staking functionality, the prospectus includes provisions for potential future staking. VanEck initially filed for the BNB ETF in May 2025, and the launch positions it ahead of Grayscale, which is also developing a similar product. This development represents a significant step in expanding cryptocurrency investment options in the US market.