Key Points
- The REX-Osprey BNB ETF may debut on November 9–10, 2025.
- Provides direct exposure to BNB along with staking opportunities.
- Shares will be issued and redeemed in cash only.
REX Shares and Osprey Funds Submit Application for Spot BNB ETF
REX Shares and Osprey Funds have submitted their application to the U.S. Securities and Exchange Commission (SEC) for a spot BNB ETF. The companies previously avoided the usual procedure with their Solana (SOL) fund, accelerating the launch process.
The product, named REX-Osprey BNB + Staking ETF, would be listed on the Cboe BZX exchange upon approval. Details regarding the custodian and transfer agent remain undisclosed in the application.
Direct BNB Exposure and Staking Opportunities
The fund intends to offer investors direct exposure to BNB, the native asset of the BNB Smart Chain (BSC). It is anticipated that a majority of the trust’s assets will be allocated for staking via reputable intermediaries, potentially providing yield alongside price growth.
Shares will strictly be issued and redeemed in cash, in line with the fund’s framework. The submission was made on the evening of August 26, 2025.
Timeline for Launch and Regulatory Benefit
Analyst James Seyffarth from Bloomberg Intelligence indicates that the product could be launched as soon as November 9–10, 2025, due to an expedited process.
This has been made possible by the fund’s classification under the Investment Company Act of 1940, enabling it to avoid the lengthy registration needed under the Securities Act of 1933, which is applicable to most spot cryptocurrency ETFs.
REX Shares and Osprey Funds implemented a similar approach for their Solana ETF, filed in June 2025 and launched on July 2, 2025. That fund raised $161.7 million within its first two months, though this was below the performance of spot Bitcoin and Ethereum ETFs.
Both companies have also submitted applications for additional altcoin-focused funds.
