VanEck is pitching its Nasdaq-listed VBNB fund around BNB Chain’s user activity, stablecoin flows and fee generation, while early assets remain modest and staking is not yet enabled.
VanEck is framing its spot BNB ETF as a usage-driven product tied to BNB Chain’s economic activity rather than simply another altcoin exposure vehicle. The Nasdaq-listed fund, ticker VBNB, launched on May 28, 2026, with VanEck Digital Assets, LLC as sponsor and has attracted roughly $2 million in assets under management, according to the firm’s product materials. VanEck cites BNB Chain metrics including 33 million monthly active users, 2.1 million daily active users, about $100 billion in monthly stablecoin transfer volume, $16 billion in stablecoins minted and roughly $160 million in annual revenue. The ETF holds BNB in cold storage through Anchorage Digital Bank and charges a 0.39% sponsor fee. Staking is not enabled at launch, though the prospectus leaves room for it later if regulatory conditions permit. The setup reflects a broader push by issuers to differentiate single-asset crypto funds through measurable network usage, though VBNB still needs to show that strong chain activity can translate into sustained investor demand.