Here are the 10-K annual reports from VanEck BNB ETF (VBNB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow VBNB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full VBNB filings page.
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.