REX, Osprey File for First U.S. Spot BNB Staking ETF With SEC Approval Path
REX Shares and Osprey Funds have filed with the SEC to launch the first U.S. spot BNB exchange-traded fund, which would include a staking component. The proposed ETF, set to trade on Cboe BZX, aims to provide direct exposure to BNB while staking a large portion of holdings to generate additional yield. Unlike spot Bitcoin and Ethereum ETFs registered under the 1933 Act, the BNB fund is structured as a ‘40 Act open-end fund with an N-1A filing, similar to the recently launched REX-Osprey Solana staking ETF. The product plans to custody BNB with a crypto custodian, delegate staking to validators, and may use liquid staking derivatives to maintain liquidity. Bloomberg’s James Seyffart said it could launch as early as Nov. 9. While other issuers like VanEck, Bitwise, and Grayscale are pursuing spot ETFs for Solana, XRP, Dogecoin, and others, the BNB staking ETF represents a new push for diversified crypto exposure under a friendlier SEC climate.