SEC Filing Document

Company: VanEck BNB ETF
Ticker: 
CIK: 2066824
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-05-15
Accession Number: 0001628280-26-035722
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2066824/000162828026035722/vaneckbnbs-1a5.htm

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MarketVector’s website at https://www.marketvector.com/insights/news. None of the information on the Index Administrator’s website is incorporated by reference into this Prospectus. Pricing Information Available on the Exchange and Other Sources The following table lists the Exchange symbols and their descriptions with respect to the Shares and the MarketVectorTM BNB Benchmark Rate: Ticker Description VBNB Market price per Share on the Exchange VBNB.IV Indicative intra-day value per Share VBNB.NV End of day NAV VBNB.SO Number of outstanding Shares The intra-day data in the above table is published once every 15 seconds throughout each trading day. The current market price per Share (symbol: VBNB) will be published continuously as trades occur throughout each trading day on the consolidated tape by market data vendors. The intra-day indicative value per Share (symbol: VBNB.IV) will be published by the Exchange once every 15 seconds throughout each trading day on the consolidated tape by market data vendors.

The Trust’s most recent end-of-day net asset value (“NAV”) (symbol: VBNB.NV) will be published as of the close of business by market data vendors and available on the Sponsor’s website at www.vaneck.com, or any successor thereto, and will be published on the consolidated tape.

Any adjustments made to the MarketVectorTM BNB Benchmark Rate will be published on the MarketVector website at https://www.MarketVector.com/ or any successor thereto.

The intra-day levels and closing levels of the MarketVectorTM BNB Benchmark Rate are published by MarketVector, and the closing NAV is published by the Administrator.

The Shares are not issued, sponsored, endorsed, sold or promoted by the Exchange, and the Exchange makes no representation regarding the advisability of investing in the Shares.

MarketVector makes no warranty, express or implied, as to the results to be obtained by any person or entity from the use of the MarketVectorTM BNB Benchmark Rate for any purpose. Index information and any other data calculated and/or disseminated, in whole or part, by MarketVector is for informational purposes only, not intended for trading purposes, and provided on an “as is” basis. MarketVector does not warrant that the Index information will be uninterrupted or error-free, or that defects will be corrected. MarketVector also does not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Shareholders should undertake their own due diligence regarding securities and investment practices.

For more information on the MarketVectorTM BNB Benchmark Rate and MarketVector, see “The Trust and BNB Prices” below.

The Trust’s Legal Structure

The Trust is a Delaware statutory trust, formed on March 31, 2025 pursuant to the Delaware Statutory Trust Act. The Trust continuously issues common shares representing fractional undivided beneficial interest in and ownership of the Trust that may be purchased and sold on the Exchange. The Trust operates pursuant to the Second Amended & Restated Declaration of Trust and Trust Agreement (the “Trust Agreement”), dated as of April 24, 2026. CSC Delaware Trust Company, a Delaware trust company, is the Delaware trustee of the Trust (the “Trustee”). The Trust is managed and controlled by the Sponsor. The Sponsor is a limited liability company formed in the state of Delaware on December 8, 2020.

The Trust’s Service Providers

The Sponsor

The Sponsor arranged for the creation of the Trust and is responsible for the ongoing registration of the Shares for their public offering in the United States and the listing of Shares on the Exchange. The Sponsor has developed a marketing plan for the Trust, will prepare marketing materials regarding the Shares of the Trust, and will exercise the marketing plan of the Trust on an ongoing basis. The Sponsor appoints and may remove the Trust’s other service providers, including the Trustee, Administrator, Transfer Agent, BNB Custodian and Marketing Agent (as defined below), as well as any additional, replacement, or successor service providers. The Sponsor has agreed to pay all ordinary operating expenses (except for litigation expenses and other extraordinary expenses) out of the Sponsor’s unified fee.

The Trustee

The Trustee, a Delaware trust company, acts as the trustee of the Trust as required to create a Delaware statutory trust in accordance with the Amended & Restated Declaration of Trust and the Delaware Statutory Trust Act.

The Administrator, The Transfer Agent and The Cash Custodian

State Street serves as the Trust’s Administrator, Transfer Agent and Cash Custodian. State Street’s principal address is One Congress Street, Boston, MA 02111.

The Administrator provides certain administrative and accounting services and financial reporting for the maintenance and operations of the Trust, including valuing the Trust’s BNB and calculating the net asset value per Share of the Trust and the net asset value of the Trust and maintaining the books of account of the Trust. In addition, the Administrator makes available the office space, equipment, personnel and facilities required to provide such services.

The Transfer Agent

State Street, as the Trust’s transfer agent (the “Transfer Agent”) (1) issues and redeems Shares of the Trust; (2) responds to correspondence by Shareholders and others relating to its duties; (3) maintains Shareholder accounts; and (4) makes periodic reports to the Trust. The Transfer Agent will facilitate the settlement of Shares in response to the placement of creation orders and redemption orders from Authorized Participants.

The Cash Custodian

The Cash Custodian will act as custodian for the Trust’s cash (in such capacity, the “Cash Custodian”). The Cash Custodian is responsible for, among other things, maintaining a separate deposit account or accounts for cash in the name of the Trust and determining the amount of BNB and/or cash required for the issuance or redemption, as the case may be, of Shares in creation unit aggregations of the Trust after the end of each trading day.

The BNB Custodian

Anchorage Digital Bank NA serves as the Trust’s BNB Custodian. The BNB Custodian is authorized to serve as the Trust’s custodian under the Trust Agreement and pursuant to the terms and provisions of the Custody Agreement. The BNB Custodian has its principal office at 101 S. Reid Street, Suite 307 #329, Sioux Falls, South Dakota 57102.

The BNB Custodian makes available to the Trust a custodial account for BNB maintained by the BNB Custodian (“BNB Account”) and access to an omnibus custodial account held at depository institutions in the BNB Custodian’s name for the benefit of its customers at which a cash balance may be maintained (“Fiat Account”). The BNB Custodian’s services in respect of the BNB Account (i) allow BNB to be deposited from a public blockchain address to the Trust’s BNB Account and (ii) allow BNB to be withdrawn from the BNB Account to a public blockchain address as instructed by the Trust. The Trust expects to use the Fiat Account to facilitate the purchase

and sale of BNB in connection with the cash creations and redemptions. In respect of the Fiat Account, the BNB Custodian holds the Trust’s cash held in its Fiat Account in one or more omnibus accounts for the benefit of the BNB Custodian’s customers at depository institutions or money market funds.

The Sponsor may, in its sole discretion, add or terminate other BNB Custodians. The Sponsor may, in its sole discretion, change the custodian for the Trust’s BNB holdings, but it will have no obligation to do so or to seek any particular terms for the Trust from other such custodians. To the extent that the Sponsor adds or terminates other BNB Custodians, or changes the custodian for the Trust’s BNB holdings, notification will be made to Shareholders via a prospectus supplement and/or a current report filed with the SEC.

The Marketing Agent

Van Eck Securities Corporation (the “Marketing Agent”), a wholly-owned subsidiary of VanEck, is responsible for reviewing and approving the marketing materials prepared by the Trust for compliance with applicable SEC and Financial Industry Regulatory Authority (“FINRA”) advertising laws, rules, and regulations.

The Trust’s Fees and Expenses