SEC Filing Document

Company: VanEck BNB ETF
Ticker: 
CIK: 2066824
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-04-28
Accession Number: 0001628280-26-027783
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2066824/000162828026027783/vaneckbnbs-1a4.htm

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the Trust; (2) responds to correspondence by Trust Shareholders and others relating to its duties; (3) maintains Shareholder accounts; and (4) makes periodic reports to the Trust. The Marketing Agent The Marketing Agent is responsible for: (1) working with the Administrator to review and approve, or reject, purchase and redemption orders of Baskets placed by Authorized Participants with the Administrator; (2) providing assistance in the marketing of the Shares; (3) reviewing and approving the marketing materials prepared by the Sponsor for compliance with applicable SEC and FIRA advertising laws, rules and regulations; and (4) maintaining a public website on behalf of the Trust, containing information about the Trust and the Shares. The internet address of the Trust’s website is accessible at www.vaneck.com. This internet address is only provided here as a convenience, and the information contained on or connected to the Trust’s website is not considered part of this Prospectus.

MarketVector Indexes GmbH is an indirectly wholly owned-subsidiary of Van Eck Associates Corporation.

CUSTODY OF THE TRUST’S ASSETS

The Trust’s BNB Custodian keeps custody of the Trust’s BNB. The Trust’s BNB are held in segregated accounts opened in the name of the Trust on the BNB Custodian’s books and records. Under the Custody Agreement, the BNB Custodian maintains the Trust’s BNB in segregated wallets separate from the assets of other customers of the BNB Custodian.

Key Generation

The BNB Custodian will receive BNB for storage in the Trust’s BNB Account by generating private keys and corresponding public key pairs, with the BNB Custodian retaining custody of such private keys. The Trust’s BNB Account will be established in the name of, or for the benefit of, the Trust, and ownership of the Trust’s BNB will be recorded in such BNB Account. Each Account is recorded separately on the BNB Custodian’s books and records and has one or more unique wallet addresses on the relevant blockchain.

Key Storage

Upon receipt of BNB, the BNB Custodian will custody the Trust’s BNB in the Trust’s name in an Account established for the benefit of the Trust and no other person. The private keys controlling the Trust’s BNB are required to be securely held by the BNB Custodian in offline cold storage at all times. The Trust’s BNB held in its BNB Account is required to be segregated at one or more unique blockchain addresses on the relevant blockchain from the assets held by the BNB Custodian as principal, the assets of other customers of the BNB Custodian and the assets of any other person. The Trust’s BNB will not be treated as general assets of the BNB Custodian, and the BNB Custodian will have no right, title or interest in such BNB. The BNB Custodian serves as fiduciary and custodian on the Trust’s behalf, and the Trust’s BNB will remain the Trust’s property at all times and will not be commingled with other customers’, the BNB Custodian’s or any other person’s digital assets.

Security Procedures

The BNB Custodian is the custodian of the Trust’s BNB in accordance with the terms and provisions of the Custody Agreement. Transfers of BNB into or out of the Trust’s account are subject to the BNB Custodian’s procedures for receiving, approving and authenticating instructions from the Trust or persons authorized by the Trust.

The Custody Agreement requires the Trust to designate multiple persons who are authorized to provide instructions on behalf of the Trust, and certain instructions require approval by more than one such authorized person. The BNB Custodian’s authentication procedures include biometric authentication, which may include fingerprint, facial recognition or voiceprint authentication. Instructions may also be submitted through an application programming interface made available by the BNB Custodian, subject to the Trust’s obligation to safeguard related API keys.

Transfers of BNB to the Trust’s account are deemed received by the BNB Custodian after confirmation on the relevant blockchain, subject to the Custody Agreement. The BNB Custodian will limit transfers of BNB into or out of the Trust’s account to Whitelisted Addresses. The BNB Custodian may block or reject a transfer if sanctions screening indicates that the transaction is suspected or determined to violate applicable sanctions laws.

The Trust may change the custodial arrangements described in this Prospectus at any time without notice to Shareholders. To the extent a change in custodial arrangements is deemed material by the Sponsor, the Trust will notify Shareholders in a prospectus supplement and/or a current report on Form 8-K or in its annual or quarterly reports.

FORM OF SHARES

Registered Form

Shares are issued in registered form in accordance with the Trust Agreement. The Transfer Agent has been appointed registrar and transfer agent for the purpose of transferring Shares in certificated form. The Transfer Agent keeps a record of all Shareholders and holders of the Shares in certified form in the registry (“Register”). The Sponsor recognizes transfers of Shares in certificated form only if done in accordance with the Trust Agreement. The beneficial interests in such Shares are held in book-entry form through participants and/or accountholders in DTC.

Book Entry

Individual certificates are not issued for the Shares. Instead, Shares are represented by one or more global certificates, which are deposited by the Administrator with DTC and registered in the name of Cede & Co., as nominee for DTC. The global certificates evidence all of the Shares outstanding at any time. Shareholders are limited to (1) participants in DTC such as banks, brokers, dealers and trust companies (“DTC Participants”), (2) those who maintain, either directly or indirectly, a custodial relationship with a DTC Participant (“Indirect Participants”), and (3) those who hold interests in the Shares through DTC Participants or Indirect Participants, in each case who satisfy the requirements for transfers of Shares. DTC Participants acting on behalf of Shareholders holding Shares through such participants’ accounts in DTC will follow the delivery practice applicable to securities eligible for DTC’s Same-Day Funds Settlement System. Shares are credited to DTC Participants’ securities accounts following confirmation of receipt of payment.

DTC

DTC has advised us as follows: It is a limited purpose trust company organized under the laws of the State of New York and is a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code and a “clearing agency” registered pursuant to the provisions of Section 17A of the Exchange Act. DTC holds securities for DTC Participants and facilitates the clearance and settlement of transactions between DTC Participants through electronic book-entry changes in accounts of DTC Participants.

TRANSFER OF SHARES

The Shares are only transferable through the book-entry system of DTC. Shareholders who are not DTC Participants may transfer their Shares through DTC by instructing the DTC Participant holding their Shares (or by instructing the Indirect Participant or other entity through which their Shares are held) to transfer the Shares. Transfers are made in accordance with standard securities industry practice.

Transfers of interests in Shares with DTC are made in accordance with the usual rules and operating procedures of DTC and the nature of the transfer. DTC has established procedures to facilitate transfers among the participants and/or accountholders of DTC. Because DTC can only act on behalf of DTC Participants, who in turn act on behalf of Indirect Participants, the ability of a person or entity having an interest in a global certificate to pledge such interest to persons or entities that do not participate in DTC, or otherwise take actions in respect of such interest, may be affected by the lack of a certificate or other definitive document representing such interest.

DTC has advised us that it will take any action permitted to be taken by a Shareholder (including, without limitation, the presentation of a global certificate for exchange) only at the direction of one or more DTC Participants in whose account with DTC interests in global certificates are credited and only in respect of such portion of the aggregate principal amount of the global certificate as to which such DTC Participant or Participants has or have given such direction.

PLAN OF DISTRIBUTION

Buying and Selling Shares

Most investors buy and sell Shares of the Trust in secondary market transactions through brokers. Shares are expected to be approved for listing, subject to notice of issuance, on the Exchange under the ticker symbol VBNB. Shares are bought and sold throughout the trading day like other publicly traded securities. When buying or selling Shares through a broker, most investors incur customary brokerage commissions and charges. Shareholders are encouraged to review the terms of their brokerage account for details on applicable charges.

Authorized Participants

The offering of the Trust’s Shares is a best efforts offering. The Trust continuously offers Baskets consisting of 25,000 Shares to Authorized Participants. Authorized Participants pay a transaction fee for each order they place to create or redeem one or more Baskets.