On November 21, VanEck updated its SEC S-1 filing for the proposed BNB spot ETF, ticker VBNB, removing previously planned staking functionality. The new filing states the trust will hold BNB tokens, track the MarketVector BNB Index, and will not perform staking or earn associated rewards, potentially impacting returns compared to owning BNB directly. The ETF, if approved, will list on Nasdaq and remain outside the Investment Company Act of 1940 and CFTC oversight, classifying it as high risk.