REX-Osprey Moves to Launch BNB Staking ETF in U.S.

Highlights:

• REX-Osprey is seeking to roll out the first BNB staking ETF under the Investment Company Act of 1940.
• The fund will stake BNB assets to generate yield, offering 3%–5% annual rewards.
• The SEC openness to staking ETFs could fast-track mainstream adoption of crypto yield products.

Osprey Funds and REX Shares have taken a significant step toward mainstream crypto adoption. The companies have submitted to the U.S. Securities and Exchange Commission (SEC) to register a BNB staking ETF, which will be the first of its kind. This follows a period of increased regulatory openness under the new government and increased institutional involvement in crypto assets.

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BNB Staking ETF Filing and Structure

The filing describes a proposal to launch a U.S.-traded ETF that holds Binance Coin (BNB) with staking rewards. The suggested fund would be traded on the Cboe BZX Exchange and store assets via a crypto custodian. Moreover, it will outsource staking to third-party validators, some of whom are also partially associated with REX Advisers.

JUST IN: REX Shares and Osprey Funds have filed for what could become the first U.S. spot $BNB ETF, with a staking component. pic.twitter.com/RobfLYVL9R

— Satoshi Club (@esatoshiclub) August 27, 2025

The ETF will undertake both creations and redemptions on a cash-based, not in-kind basis. It would also utilize liquid staking protocols that generate tradeable derivatives by providing yield without losing liquidity. Up to 15% of the assets can be considered illiquid, which is equal to a seven-day BNB unbonding period.

In addition, the structure is regulated by the Investment Company Act of 1940 under Form N-1A registration. This makes it different from Bitcoin and Ethereum spot ETFs operating under the Securities Act of 1933. The REX-Osprey ETF will also leverage a Cayman subsidiary to manage staking in a tax-efficient way.

Market Context and Institutional Interest

The BNB staking ETF filing replicates the earlier approval process of the Solana staking ETF, issued by REX-Osprey, in July. That product was the first U.S. product to directly provide SOL staking rewards within the 40 Act framework.. Bloomberg ETF analyst James Seyffart noted that the BNB fund may be listed as soon as November 9, provided regulatory approval is granted.

This filing for a BNB staking ETF from @REXShares & @OspreyFunds looks like it could go live in early November. As early as November ~9th/10th https://t.co/AbXt4AJbcn

— James Seyffart (@JSeyff) August 27, 2025

This drive comes in line with a surge of crypto-ETF applications. Big companies, such as VanEck, Grayscale, Franklin Templeton, Bitwise, are also pursuing funds linked to XRP, Solana, Dogecoin, Cardano, and many others. These filings represent a shift in the attitude of the SEC regarding pooled staking products.

In addition, institutional demand for BNB is on the rise. Several companies have started using BNB in treasury strategy, with many considering it an important store of value alongside Bitcoin and Ethereum. Backed by YZi Labs, B Strategy aims to raise $1 billion, aimed at having a BNB dedicated treasury fund. Meanwhile, biotech company Windtree Therapeutics obtained funding to introduce its own BNB treasury program.

Why BNB Staking Matters for Investors

Binance Coin has an important purpose in the Binance chain ecosystem. It is used to pay transaction fees, take part in the governance, and secure the network through delegated proof-of-stake validation. Staking enables token holders to earn extra yields, and at the same time, contributes to the security of the network.

The proposed BNB staking ETF makes this process easier. Rather than having to maintain wallets or navigate staking pools, investors could gain access to rewards with the acquisition of a single ETF. Moreover, the staking returns are estimated to be between 3% to 5% annually, which will be distributed as dividends to the shareholders.

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