VanEck Accelerates Crypto Expansion with BNB ETF Bid and Celestia ETN Rollout

Institutional Eyes on BNB and TIA as VanEck Broadens Its Crypto Bet

VanEck is doubling down on its crypto ambitions with two major product moves this week—one targeting U.S. investors through a proposed Binance Coin (BNB) ETF, the other extending European exposure to Celestia’s native token, TIA. 

The New York-based asset manager, which oversees more than $115 billion, filed a trust registration on March 31 to initiate the VanEck BNB ETF, marking the first formal step toward bringing a BNB-backed exchange-traded fund to Wall Street. This move positions VanEck to introduce the first U.S.-listed ETF tied directly to BNB, Binance’s native token and one of the largest digital assets by market capitalization.

The filing, submitted in Delaware, sets the groundwork for a broader application with the Securities and Exchange Commission. While approval is not guaranteed, success would mark a landmark moment for both BNB and regulated crypto investment products in the United States. Priced at approximately $608 on the day of the filing, BNB has seen low volatility over the prior 24 hours, making it an appealing candidate for a regulated ETF product. 

This marks the fifth cryptocurrency VanEck has targeted for ETF approval in the U.S., following its Bitcoin, Ethereum, Solana, and Avalanche proposals. The firm gained momentum in 2023 with the approval and launch of its spot Bitcoin and Ethereum ETFs, bolstering its credentials as a front-runner in regulated digital asset products.

VanEck’s BNB effort isn’t an isolated case. It filed the first Solana ETF in June 2024 and more recently submitted paperwork for an Avalanche ETF, signaling an aggressive, multi-pronged strategy aimed at capturing institutional interest in Layer 1 networks. The firm’s approach hinges on increasing adoption of cryptocurrencies among traditional investors seeking exposure to blockchain assets without navigating the complexities of self-custody or on-chain management. 

Whether the SEC will greenlight a BNB ETF remains an open question, but VanEck’s continued filings demonstrate a long-term commitment to expanding its crypto lineup amid a shifting regulatory landscape.

Just days later, VanEck Europe unveiled another major product—the VanEck Celestia ETN—designed to provide institutional access to the modular blockchain platform Celestia. The product launched on March 27 but was formally announced on April 2. Domiciled in Liechtenstein and operated by VanEck ETP AG, the exchange-traded note tracks the performance of TIA, Celestia’s native token, through physical replication. The fund holds actual TIA tokens and reinvests all income, targeting long-term investors interested in blockchain infrastructure. 

As of launch, the ETN had a Net Asset Value of $8.28 and total net assets of $27.75 million, carrying a Total Expense Ratio of 1.50%. While not UCITS-compliant, the product remains eligible under specific European regulations, offering institutional exposure within a secure, regulated framework.

Celestia’s architecture separates consensus from data availability, allowing developers to build permissionless, scalable application-specific blockchains without the constraints of a shared validator set. This innovation has gained traction among developers seeking alternatives to traditional Layer 1 networks. VanEck Europe’s Crypto Product Manager Menno Martens highlighted the organic demand for TIA, noting its utility as the core payment mechanism across all Celestia interactions. Mustafa Al-Bassam, co-founder of Celestia and chairman of the Celestia Foundation, welcomed the ETN launch as an early step toward institutional participation in Celestia’s modular ecosystem.

Despite the bullish tone, VanEck acknowledged potential headwinds, warning that digital assets like TIA carry high volatility and face regulatory uncertainty. Still, the firm’s track record—spanning early investments in gold during the 1960s to pioneering ETFs in the 2000s—lends credibility to its latest crypto push. By rolling out a BNB ETF in the U.S. and launching a TIA ETN in Europe within days of each other, VanEck is signaling a coordinated strategy aimed at bridging traditional finance with emerging blockchain infrastructure.

This article has been refined and enhanced by ChatGPT.