VanEck BNB ETF

VanEck BNB ETF is a Delaware statutory trust formed on March 31, 2025. The Trust operates under a Second Amended and Restated Declaration of Trust and Trust Agreement, effective April 24, 2026. Its primary purpose is to own BNB, a cryptocurrency, which is transferred to the Trust in exchange for shares issued by the Trust. Each share represents a fractional undivided beneficial interest and ownership in the Trust. The Trust's assets primarily consist of BNB held by third-party custodians. Anchorage Digital Bank N.A. serves as the First BNB Custodian. On August 5, 2026, subsequent to the fiscal year end, the Trust also entered into a custody agreement with BitGo Bank & Trust, National Association, which acts as the Second BNB Custodian. These two entities are collectively referred to as the BNB Custodians. The Trust is managed and controlled by VanEck Digital Assets, LLC, a Delaware limited liability company and a wholly owned subsidiary of Van Eck Associates Corporation. CSC Delaware Trust Company, a Delaware trust company, serves as the Delaware trustee. State Street Bank and Trust Company functions as the Trust's administrator, transfer agent, and cash custodian. On November 14, 2025, Van Eck Associates Corporation, the parent of the Sponsor, purchased 4,000 "Seed Shares" at a price of $25.00 per share, generating total proceeds of $100,000 for the Trust. These Seed Shares were delivered on November 14, 2025. On May 7, 2026, the Seed Shares were redeemed for cash, and Van Eck Associates Corporation then purchased "Seed Creation Baskets" consisting of 40,000 Shares at a per-Share price of $25.00, equivalent to 1,555.1639998 BNB.