Latest developments: VanEck recently launched the first U.S. spot BNB ETF, trading under the ticker VBNB on Nasdaq.

• The fund gives investors exposure to BNB through traditional brokerage accounts.
• VanEck Director of Digital Assets Product Kyle DaCruz said the firm focuses on blockchains with measurable adoption rather than purely technical promises.
• The ETF has attracted roughly $2 million in assets since launch, according to DaCruz.
• DaCruz joined CoinDesk’s Jennifer Sanasie and Bloomberg’s James Seyffart on Public Keys.

Why it matters: VanEck argues BNB has already achieved the user adoption many crypto projects are still pursuing.

• DaCruz said BNB Chain has 33 million monthly active users and 2.1 million daily active users.
• He cited roughly…