VanEck has officially filed for the first-ever BNB exchange-traded fund (ETF) in the United States, aiming to bring Binance’s native token to mainstream investors through a regulated financial product. The asset manager submitted the application to the U.S. Securities and Exchange Commission (SEC), proposing a spot ETF that would hold actual BNB tokens and potentially stake part of its holdings to generate yield.

This marks a major milestone for both VanEck and the broader crypto industry, as no U.S. firm has previously attempted to launch a BNB-focused ETF. The filing states the fund may engage in staking through trusted providers, adding a new layer of potential returns for investors.

BNB currently holds a market cap of about $84 billion and offers an estimated 2.5% yield for stakers, according to StakingRewards.com. It powers Binance’s BNB Chain, one of the top smart contract platforms with nearly $6 billion in total value locked, based on data from DefiLlama.

The move by VanEck follows a broader trend of crypto ETF interest sparked by the success of spot Bitcoin ETFs, which have pulled in over $40 billion in net inflows since launching in early 2024. Binance co-founder Changpeng “CZ” Zhao recently predicted this momentum would expand into altcoins.

VanEck has already filed for ETFs involving other major tokens like Solana and Avalanche. The SEC has received a wave of similar proposals, including plans for ETFs centered on layer-1 tokens and even memecoins like Dogecoin, under the pro-crypto sentiment that has emerged during Donald Trump’s current presidential term.

This filing could pave the way for a new era of regulated altcoin investment products in the U.S. market.