VanEck BNB ETF (VBNB) is conducting a continuous offering and registering an indeterminate number of Shares. The Trust holds BNB and seeks to reflect its price and, when the Sponsor determines staking can occur without undue legal or regulatory risk, rewards from staking, less Trust expenses. Shares are created and redeemed with authorized participants in 10,000-share Baskets through cash or in-kind transactions; individual shareholders trade on Nasdaq and may buy or sell at a premium or discount to NAV.
The Sponsor Fee is 0.39%. BitGo is expected to receive 4.0% of staking rewards as provider consideration, deducted before rewards are credited to the Trust. Undelegated BNB is subject to a currently seven-day Unbonding Period, during which it earns no rewards and cannot be withdrawn, transferred, sold or re-delegated, potentially delaying redemptions. The Trust is passive and does not use derivatives or leverage. BNB price volatility, custody, staking, network and regulatory risks could result in substantial or total loss; the Trust is not registered under the 1940 Act.
VanEck BNB ETF filed a post-effective amendment solely to add an exhibit to its registration statement. The amendment states it becomes effective upon filing under Rule 462(d); the added exhibit is an amendment to the BitGo Custodial Services Agreement, incorporated by reference from a September 29, 2026 Form 8-K. No other registration-statement provisions are modified.
VanEck BNB ETF, through its sponsor VanEck Digital Assets, LLC, amended its Second Custody Agreement with BitGo Bank & Trust, National Association on September 25, 2026. The amendment restates Schedule A to identify Figment as validator for the Trust’s BNB staking activities and provides for a 4% staking assets validator fee. BitGo serves as the Trust’s second BNB custodian, and the agreement’s other provisions remain effective and unchanged.
VanEck BNB ETF (VBNB), a Delaware statutory trust formed in March 2025, is a passive vehicle designed to reflect the price performance of BNB and, if ever implemented, rewards from staking a portion of its BNB, less expenses. The fund is not actively managed, does not use leverage or derivatives, and issues and redeems shares only in 10,000‑share Baskets with Authorized Participants in cash or in‑kind BNB.
Seed capital consisted of 4,000 shares sold at $25.00 per share for $100,000, followed by 40,000 “Seed Creation Basket” shares at $25.00 per share for $1,000,000, corresponding to 1,555.1639998 BNB. At June 30, 2026, net asset value was $2,140,751 with 100,000 shares outstanding; as of December 31, 2025, non‑affiliate holdings had a stated market value of $0.
The ETF’s shares trade on Nasdaq under ticker VBNB and are valued daily using the affiliated BNB Benchmark Rate, with the Sponsor retaining authority to fair‑value BNB when that rate is disrupted or diverges from alternate benchmarks. Extensive risk disclosures highlight regulatory uncertainty around digital assets and staking, the possibility that BNB could be deemed a security leading to potential dissolution of the trust, and U.S. tax risks if the vehicle were to lose its intended grantor‑trust status.
VanEck BNB ETF (VBNB) is updating its prospectus to add BitGo Bank & Trust, National Association as a Second BNB Custodian alongside Anchorage Digital Bank N.A., now the First BNB Custodian. Both custodians will hold the Trust’s BNB in segregated, cold-storage blockchain addresses and may also provide Fiat Accounts.
The supplement details that BNB held with either custodian remains the Trust’s property, segregated from custodian assets, and that BitGo’s accounts are structured as Article 8 “financial assets” in a “securities account” with BitGo as “securities intermediary.” As of this supplement, no BNB has been transferred to BitGo. The filing also restates custody-related risk factors, emphasizing security threats, limited insurance protections, and liability limitations under the custody agreements.
VanEck BNB ETF (VBNB) has submitted Post-Effective Amendment No. 1 to its Registration Statement on Form S-1 under Rule 462(d) to add an exhibit related to custody. The amendment simply files a BitGo Custodial Services Agreement as Exhibit 10.9 and states that no other provisions of the existing registration statement or prospectus are changed.
VanEck BNB ETF, through its sponsor VanEck Digital Assets, LLC, entered into a Custodial Services Agreement on August 5, 2026 with BitGo Bank & Trust, National Association, a nationally chartered bank supervised by the Office of the Comptroller of the Currency, under which BitGo serves as a second BNB custodian for the trust.
BitGo provides a Second BNB Account that permits BNB to be held in custody, deposited from a public blockchain address, and withdrawn to a public blockchain address as instructed by the trust, along with additional services agreed between the parties. The trust retains all right, title, and beneficial ownership of its BNB, which BitGo must hold separately from other customers’ assets, and BitGo will not lend, pledge, or rehypothecate the trust’s BNB except as authorized by the trust or required by applicable law.
VanEck BNB ETF (VBNB) is registering an indeterminate number of shares as an exchange-traded fund that will hold BNB and seek to reflect the price of BNB (and staking rewards only if the Sponsor elects and deems staking legally safe), less Trust expenses. The Trust will list on Nasdaq under Rule 5711(d) once BNB meets eligibility, will transact creations/redemptions in 10,000-Share Baskets via authorized participants, and will value Shares daily using the MarketVector BNB Benchmark Rate. At launch the Trust will not stake its BNB. Seed activity: 4,000 Seed Shares were sold at $25 each for $100,000; on May 7, 2026 the Seed Creation Baskets (40,000 Shares) were created for 1,555.1639998 BNB using an Index price of $643.148 per BNB. The Sponsor Fee is 0.39%, payable monthly in BNB. Material risks include extreme BNB price volatility, custody and private key risk, regulatory uncertainty, and potential divergence from returns available to directly staked BNB holders.