VanEck bets BNB’s real-world usage can stand out in a crowded crypto ETF market

VanEck recently launched the first U.S. spot BNB ETF, trading under the ticker VBNB on Nasdaq. The fund gives investors exposure to BNB through traditional brokerage accounts and has attracted roughly $2 million in assets since launch, VanEck Director of Digital Assets Product Kyle DaCruz said on the Public Keys podcast with Jennifer Sanasie and James Seyffart.

DaCruz said the firm focuses on blockchains with measurable adoption rather than purely technical promises. He cited BNB Chain’s 33 million monthly active users and 2.1 million daily users, about $100 billion in monthly stablecoin transfer volume, $16 billion in stablecoins minted on the network, and roughly $160 million in annual revenue.

VanEck’s investment thesis centers on identifying chains with active users and economic activity—what DaCruz described as “revenue chains”—rather than so-called ghost chains.

United States

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