Wall Street Embraces Binance as Vaneck Launches First US Spot BNB ETF
Global asset manager Vaneck has officially launched the Vaneck ETF, trading under the ticker VBNB on the Nasdaq. As of Thursday, standard U.S. brokerage accounts can now gain direct, regulated exposure to , the native of the Binance-linked Chain. According to the fund‘s prospectus, VBNB is physically backed by actual held in cold storage by Anchorage Digital Bank, a federally chartered digital asset bank. This structure mirrors the established spot ETF models, allowing investors to track the asset’s price without the need to manage or navigate offshore exchanges. Source: VanEck “ has been one of the most resilient major through the recent market cycle,” Patrick Bush, Senior Investment Analyst with Vaneck, stated during the launch, while Kyle DaCruz, Director of Digital Assets Product at Vaneck, echoed a similar sentiment, noting, “Until today, stood out among major assets as one of the few not yet available in a U.S. spot ETP.” The Market Reaction Was Swift Former Binance CEO Changpeng Zhao took to X to celebrate the milestone, stating, “The first spot ETP. Slowly but surely.” Despite the institutional validation, the broader market faced significant macroeconomic headwinds, causing to slip slightly and trade below $634 per unit, failing to immediately capitalize on the Nasdaq listing momentum. s