VanEck has launched what it describes as the first U.S. spot BNB exchange-traded fund under the ticker VBNB. The existing topic states the fund offers direct spot exposure to BNB, charges a 0.39% management fee, is backed by physical BNB, uses Anchorage Digital Bank for cold-wallet custody, and launched without staking rewards. The new report adds that the ETF launch coincided with a decline in Binance Coin as the broader crypto market sold off amid rising tensions between the United States and Iran.