SEC Filing Document

Company: VanEck BNB ETF
Ticker: 
CIK: 2066824
Filing Type: S-1/A
Document Type: EX-10.1
Date Filed: 2025-11-21
Accession Number: 0001628280-25-053634
Exchange: 
SIC Code: 6221
SIC Description: Commodity Contracts Brokers & Dealers
URL: https://www.sec.gov/Archives/edgar/data/2066824/000162828025053634/exhibit101-sx1a2.htm

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herein shall be in addition to any current Authorized Persons. Participant Name NSCC # NAME (1) TITLE (1) SIGNATURE (1) TELEPHONE NUMBER (1) E-MAIL ADDRESS (1) User Location (Country) PERMISSION (2) * *Permissions: RO- Read-Only (Allows users to see account information and run reports, but not place trades) ET – Execute Trades (Allows user to place trades directly on to Fund Connect) (1) Required information. (2) Required information to use the Web Order Site. Information Classification: Limited Access - 21 - Signed on behalf of the Authorized Participant: Name: Title: Date: Information Classification: Limited Access - 22 - EXHIBIT B CREATION / REDEMPTION ORDER FORM (for use only in connection with non-Fund Connect orders) VanEck BNB ETF CONTACT INFORMATION FOR ORDER EXECUTION: Telephone Order Number: [ ] Fax Number: [ ] Business Numbers, After the EXCHANGE CLOSING [ ] or [ ] STATE STREET BANK AND TRUST COMPANY, TRANSFER AGENT

ALL ITEMS IN PART I MUST BE COMPLETED BY THE AUTHORIZED PARTICIPANT. THE SPONSOR, THE TRANSFER AGENT, AND/OR THE TRUST, IN THEIR DISCRETION, MAY REJECT ANY ORDER NOT SUBMITTED IN COMPLETE FORM OR CONTAINING AMBIGUOUS INSTRUCTIONS. DEFINED TERMS SET FORTH BELOW SHALL HAVE THE MEANING AS SET FORTH IN THE PARTICIPANT AGREEMENT.

I.TO BE COMPLETED BY AUTHORIZED PARTICIPANT

Date: Time: Authorized Person:

Firm Name: NSCC/DTC Participant Number:

Telephone Number: Fax Number:

Type of Order (Check one): CREATION REDEMPTION

Indicate Fund for transaction:

VanEck BNB ETF
Standard Order (In-Cash)

In-Kind

The Authorized Participant represents and warrants that it will not redeem a Basket unless it, or the party for which it is acting, as the case may be, first owns outright or has a reasonable basis to believe that it can acquire the requisite number of Shares to be redeemed as a Basket, or has full legal authority and legal and beneficial right to tender for redemption the Baskets to be redeemed and to receive the entire proceeds of the redemption.

THIS TRANSACTION SHALL BE EFFECTED IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE TRUST’S CURRENT REGISTRATION STATEMENT, THE ETF ORDER PROCEDURES AND THE PARTICIPANT AGREEMENT.

Number of Baskets	(CU) Being Transacted: Number: Number Written Out:
(One Basket = [25,000] Shares)
ORDER NUMBER:
(To be entered by Authorized Participant after issuance Authorized Person’s Signature

II. TO BE COMPLETED BY TRANSFER AGENT

This certifies that the above order has been:

Accepted Declined -Reason:

Information Classification: Limited Access	- 23 -

Date Time Authorized Signature

Information Classification: Limited Access	- 24 -

EXHIBIT C

This document (the “Procedures”) supplements the Registration Statement with respect to the procedures to be used by the Transfer Agent and/or Sponsor in processing orders for the purchase of Baskets of the Trust (“Creation Orders”) and orders redeeming Baskets of the Trust (“Redemption Orders,” and together with Creation Orders, “Orders”). Each Order will specify the number of Baskets being purchased or redeemed.

The Authorized Participant is required to have signed this Agreement, of which these Procedures form a part. Capitalized terms used but not defined in these Procedures have the meaning given to them in this Agreement. Upon acceptance by the Trust of the Participant Agreement, the Transfer Agent or Sponsor, as the case may be, will assign a personal identification number (“PIN”) to each Authorized Person authorized to act for the Authorized Participant. This will allow the Authorized Participant through its Authorized Person(s) to place an Order with respect to Baskets.

“Basket Cash Component” shall be calculated in the following manner. First, for a Business Day on which any Order is placed (“Trade Date”), the Administrator determines the Creation Basket Deposit (as defined in the Trust Agreement). The Administrator starts determining the number of BNB held by the Trust as of the opening of business on Trade Date, and subtracts the amount of BNB constituting estimated accrued but unpaid fees and expenses of the Trust as of the opening of business on Trade Date. Second, this figure, in BNB, is divided by the quotient of the number of Trust Shares outstanding at the opening of business on Trade Date divided by [25,000]. This produces the Creation Basket Deposit, which is the number of BNB attributable to each Basket as of the opening of business on Trade Date. Third, the resulting BNB amount is then valued, in cash, at the MarketVectorTM BNB Index (the “Index”) calculated on Trade Date, or in accordance with the other valuation policies described in the Registration Statement if the Index is not available or in the Sponsor’s discretion. The resulting cash amount is the Basket Cash Component, which is calculated on the evening of Trade Date.

“Business Day” means any day the Exchange is open for business and the Trust accepts Purchase Orders and Redemption Orders for Creation Baskets.

“Cash Amount” shall mean an amount of cash sufficient to pay any applicable transaction fee (including the Transaction Fee), redemption fee and any additional fixed and/or variable charges, costs, taxes, or expenses, applicable to Creation Orders or Redemption Orders effected fully in cash, as described herein and/or in the Registration Statement.

TO PLACE AN ORDER FOR PURCHASE OR REDEMPTION OF BASKETS

1.Orders by Telephone.

a.     Order Number. Call to Receive an Order Number. An Authorized Person for the Authorized Participant will call the telephone representative at the number listed on the Trust’s order form (“Order Form”) not later than the cut-off time for placing Orders with the Trust, which shall be 3:59:59 p.m. Eastern Standard Time on Trade Date or as otherwise communicated by the

Information Classification: Limited Access	- 25 -

Sponsor (the “Order Cut-Off Time”) to receive an Order Number. Non-standard Orders generally must be arranged with the Trust in advance of Order placement. The Order Form (as may be revised from time to time) is incorporated into and made a part of this Agreement.

Upon verifying the authenticity of the caller (as determined by the use of the appropriate PIN) and the terms of the Order, the telephone representative will issue a unique Order Number. All Orders with respect to the purchase or redemption of Baskets are required to be in writing and accompanied by the designated Order Number. Incoming telephone calls are queued and will be handled in the sequence received. Calls placed before the Order Cut-Off Time will be processed even if the call is taken after this cut-off time. ACCORDINGLY, DO NOT HANG UP AND REDIAL. INCOMING CALLS THAT ARE ATTEMPTED LATER THAN THE ORDER CUT-OFF TIME WILL NOT BE ACCEPTED.

NOTE THAT THE TELEPHONE CALL IN WHICH THE ORDER NUMBER IS ISSUED INITIATES THE ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE ORDER. AN ORDER IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF WRITTEN INSTRUCTIONS VIA THE ORDER FORM CONTAINING THE DESIGNATED ORDER NUMBER, AUTHORIZED INDIVIDUALS’ SIGNATURES AND TRANSMITTED BY FACSIMILE.

b.     Place the Order. An Order Number is only valid for a limited time. The Order Form for purchase or redemption of Baskets must be sent by facsimile to the telephone representative within 20 minutes of the issuance of the Order Number. In the event that the Order Form is not received within such time period, the telephone representative will attempt to contact the Authorized Participant to request immediate transmission of the Order. Unless the Order Form is received by the telephone representative upon the earlier of (i) within 15 minutes of contact with the Authorized Participant or (ii) 45 minutes after the Order Cut-Off Time, the Order will be deemed invalid.

c.    Await Receipt of Confirmation.

(i)Clearing Process. The Sponsor or the Transfer Agent shall issue a confirmation of Order acceptance within approximately 15 minutes of its receipt of an Order Form received in good form. In the event the Authorized Participant does not receive a timely confirmation from the Sponsor or the Transfer Agent, it should contact the telephone representative at the business number indicated.

(ii)Outside the Clearing Process. In lieu of receiving a confirmation of Order acceptance, the DTC Participant will receive an acknowledgment of Order acceptance. The DTC Participant shall deliver on settlement date the required quantity of BNB and/or cash (in the case of purchases) or the Basket size aggregation of Shares on trade date plus one (in the case of redemptions) to the

Information Classification: Limited Access	- 26 -

Trust through DTC. The Trust shall settle the transaction on the prescribed settlement date.