REX-Osprey Seeks Approval for BNB Staking ETF

The REX-Osprey BNB + Staking ETF will allocate most of its capital to BNB directly or through a Cayman Islands subsidiary, with staking expected to generate yields between 1.5% and 3%. The filing was made amid surging interest in crypto ETFs, with Bitcoin and Ethereum products seeing record inflows and trading volumes over the past few months. 

BNB ETF Race Heats Up

REX Shares and Osprey Funds jointly filed with the US Securities and Exchange Commission (SEC) to launch a BNB exchange-traded fund (ETF) that incorporates staking yield. The proposed REX-Osprey BNB + Staking ETF will allocate at least 80% of its capital to BNB, the native token of the Binance ecosystem, or gain exposure through a Cayman Islands subsidiary, while the remainder could be invested in other ETFs or exchange-traded products tied to BNB. Staking on the Binance Chain, which uses a proof-of-staked-authority model, is estimated to generate yields of 1.5% to 3% annually for validators.

REX-Osprey’s filing with the SEC

This product will be different from Osprey Funds’ existing BNB Chain Trust, which was launched in 2024 for accredited investors with a $10,000 minimum investment. While the trust intends to stake all of its BNB, it must still stick to regulatory restrictions that prevent illiquid assets from exceeding 15% of the portfolio. Anchorage Digital Bank has been appointed custodian for the proposed ETF’s BNB, related holdings, and liquid staking tokens.

The REX-Osprey filing was made after a similar proposal from VanEck in May of 2025, which was the first attempt to introduce a BNB ETF in the United States. Additionally, the broader market for crypto ETFs has been gaining traction, with Bitcoin ETFs recording monthly inflows between $3 billion and $6 billion in recent months, while Ethereum ETFs saw $5.4 billion of inflows in July and another $3.7 billion so far in August. Trading volumes also surged, with Ethereum ETFs alone generating around $17 billion in trades during mid-August, setting new records according to Bloomberg analysts.

Monthly flows for ETH ETFs (Source: SoSoValue)

As interest builds, analysts at Bitfinex suggest that a true rally for altcoins may depend on more approvals of crypto ETFs in the US. Alongside BNB, several other altcoins, including Solana, TRUMP, and SUI, are awaiting regulatory decisions on ETF applications.