VanEck BNB ETF (NASDAQ:VBNB) filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, reporting net assets of $2,685,756 and a net increase from operations of $807,082 for the three months ended that date.

Key Highlights

  • Net assets: $2,685,756 as of September 30, 2026, up from $2,140,751 as of June 30, 2026.
  • Net Asset Value per Share: $29.84 at September 30, 2026, compared to $21.41 at June 30, 2026.
  • Shares outstanding: 90,000 as of September 30, 2026, down from 100,000 as of June 30, 2026; 3,410,000 shares outstanding as of October 31, 2026.
  • BNB holdings: 3,495.59 BNB at a cost of $2,203,241 and fair value of $2,686,585 as of September 30, 2026.
  • Net increase from operations: $807,082 for the three months ended September 30, 2026, driven primarily by $792,269 in net change in unrealized appreciation.
  • Sponsor fee expense: $2,344 for the three months ended September 30, 2026, resulting in a net investment loss of $2,344.
  • Staking commenced: According to the filing, the Trust began staking BNB on October 7, 2026.

VanEck BNB ETF Q3 2026 Financial Results and BNB Holdings

According to the filing, VanEck BNB ETF is a Delaware statutory trust and exchange-traded fund whose shares trade on the Nasdaq Stock Market LLC under the symbol VBNB. The Trust began listing on the Exchange on May 28, 2026. The Trust's stated investment objective, as described in the filing, is "to reflect the performance of the price of BNB tokens ('BNB'), and rewards from staking a portion of the Trust's BNB, to the extent the VanEck Digital Assets, LLC (the 'Sponsor') in its sole discretion determines that the Trust may do so without undue legal or regulatory risk," less the expenses of Trust operations. The filing notes that the Trust is managed by VanEck Digital Assets, LLC, a wholly-owned subsidiary of Van Eck Associates Corporation.

The Trust's Statements of Assets and Liabilities reported total assets of $2,686,585 at September 30, 2026, consisting entirely of its investment in BNB at fair value, against total liabilities of $829 (accrued Sponsor fee), yielding net assets of $2,685,756. At June 30, 2026, net assets stood at $2,140,751, with 100,000 shares outstanding. By September 30, 2026, shares outstanding had declined to 90,000. The Schedule of Investments disclosed that the Trust held 3,495.59 BNB at September 30, 2026, with a cost basis of $2,203,241 and a fair value of $2,686,585, representing 100.03% of net assets before netting liabilities.

The Statement of Operations for the three months ended September 30, 2026, showed a net realized gain from investment in BNB of $17,157, composed of a $17,249 gain on BNB sold for redemption of shares and a $92 loss on BNB sold to pay expenses. Net change in unrealized appreciation from investment in BNB was $792,269. The filing noted that no comparative financial statements were provided "as the Trust did not have any operations as of September 30, 2025." Capital share transactions for the period reflected withdrawals for shares redeemed of $262,077 and no contributions for shares issued.

What Was Disclosed

The Trust disclosed its unaudited financial statements for the quarter ended September 30, 2026, covering BNB holdings, net asset value, operating results, and capital share activity. The filing also noted that the Trust began staking BNB on October 7, 2026, after the period end.