Rex Shares and Osprey Funds have filed an application with the U.S. Securities and Exchange Commission (SEC) to launch the REX-Osprey BNB Staking ETF, a new fund that would give investors exposure to BNB while also passing through staking rewards in the form of dividends.
Following the Solana Model
Filed on August 26, the application mirrors the structure of Rex’s Solana Staking ETF, which launched earlier in 2025 and quickly attracted more than $133 million in assets under management. Like that product, the BNB version is designed to distribute staking yields typically 3–5% annually on the BNB Chain — back to shareholders.
To stay compliant, the fund will use a C-corporation alongside a Cayman Islands subsidiary to custody and stake BNB. Custody and staking services would likely be handled by a regulated provider such as Anchorage Digital, the same partner used for Rex’s Solana product.
Because the filing was made under the Investment Company Act of 1940, it could be approved faster than spot crypto ETFs filed under the Securities Act of 1933.
What Analysts Are Saying
Bloomberg ETF analyst Eric Balchunas highlighted the filing on August 27, noting its strong similarities to Rex’s Solana fund and pointing out that it could become one of the first U.S.-regulated ETFs to offer direct access to staked BNB.
If approved, the ETF could launch within weeks, giving both retail and institutional investors an easier way to access BNB and earn yield without directly managing custody or staking.
Rising Institutional Demand for BNB
The timing of the filing comes as institutional adoption of BNB continues to climb. By Q2 2025, more than 30 publicly traded companies had allocated nearly $800 million in BNB as part of their treasury strategies.
Companies such as Nano Labs and BNB Network Company have leaned into BNB as a diversification asset, citing its limited supply, regular token burns, and low transaction fees as key advantages for yield-focused products.
Regulatory Hurdles Remain
Still, approval isn’t guaranteed. The SEC has previously delayed or rejected ETF applications for other proof-of-stake tokens such as Avalanche (AVAX) and Cardano (ADA), citing concerns around custody, market manipulation, and integrity of the underlying markets.
Even so, Rex’s filing signals that altcoin ETFs are gaining momentum and could be a turning point for integrating BNB into mainstream finance if regulators give the green light.
With staking ETFs already proving successful in the U.S. through Solana, the proposed BNB Staking ETF could be the next big step in bridging crypto yields with traditional finance.
