VanEck launches first spot BNB ETF in the US

Asset manager VanEck has launched the first spot BNB ETF in the U.S., the VanEck BNB ETF (VBNB), The Block reported. The product provides direct exposure to BNB price movements, with the underlying spot BNB held in cold storage at Anchorage Digital Bank. The ETF carries a fee of 0.39%. VanEck first applied for the BNB ETF last May, and Grayscale is also currently seeking approval for a similar product. However, both products will exclude staking features at launch.