Vaneck Bnb ETF (VBNB)

The trust’s investment objective is to reflect the performance of the price of BNB and rewards from staking a portion of the trust’s BNB to the extent the Sponsor in its sole discretion (i) implements staking and (ii) determines that the trust may do so without undue legal or regulatory risk, such as, without limitation, by jeopardizing the trust’s ability to qualify as a grantor trust for U.S. federal income tax purposes, less the expenses of the trust’s operations.