VanEck believes that the real-world utilization of BNB positions it as a more robust long-term investment compared to numerous blockchain initiatives that are still in the vision stage. Recent updates indicate that VanEck has launched the inaugural U.S. spot BNB ETF, trading under the symbol VBNB on Nasdaq.

— This fund allows investors to access BNB via conventional brokerage accounts.

— Kyle DaCruz, VanEck’s Director of Digital Assets Product, emphasized the firm’s focus on blockchains that show measurable user adoption instead of merely technical assertions.

— Since its inception, the ETF has garnered approximately $2 million in assets, as reported by DaCruz.

— DaCruz participated in a discussion with Decryptnews’s Jennifer Sanasie and Bloomberg’s James Seyffart on Public Keys.

The significance of this development lies in VanEck’s claim that BNB has already reached user adoption levels that many crypto projects are striving to achieve.

— DaCruz noted that BNB Chain boasts 33 million monthly active users and 2.1 million daily active users.

— He also pointed out a monthly stablecoin transfer volume nearing $100 billion and $16 billion in stablecoins issued on the network.

— The firm’s investment strategy focuses on recognizing chains with active users and economic transactions, contrasting with what DaCruz refers to as “ghost chains.”

Reading further into the implications, VanEck is placing greater emphasis on blockchain revenue as a vital indicator for investors.

— DaCruz remarked that advisors are shifting their interest from technical differences between blockchains to sustainable business models.

— He cited BNB and Hyperliquid as instances of “revenue chains” that create real economic value.

— According to DaCruz, BNB produces around $160 million in yearly revenue.

Looking ahead, VanEck anticipates that staking will eventually become integral to the ETF’s value proposition.

— The firm’s prospectus considers staking once regulatory and operational conditions are favorable, as noted by DaCruz.

— He mentioned that staking could yield returns for investors while contributing to the security of the proof-of-stake network.

— VanEck expects that advisors will increasingly adopt active crypto investment strategies as the number of crypto ETFs continues to expand.