VanEck BNB ETF Amends Custody Agreement, Names Figment as Validator

What Happened

• VanEck BNB ETF (the Trust), through sponsor VanEck Digital Assets, LLC, and BitGo Bank & Trust, N.A. executed an amendment on September 25, 2026 to the Second Custody Agreement (originally dated August 5, 2026).
• The Amendment amends Schedule A to identify Figment as the validator for the Trust’s BNB staking activities and establishes a 4% staking assets validator fee. Other provisions of the Second Custody Agreement remain unchanged. The Amendment is filed as Exhibit 10.1 to the 8-K.

Key Details

• Filing: Form 8-K (Item 1.01) dated September 29, 2026.
• Parties: VanEck Digital Assets, LLC (Sponsor/Trust) and BitGo Bank & Trust, N.A. (Second BNB Custodian).
• Effective date of Amendment: September 25, 2026.
• Validator fee: 4% of staking assets for Figment as validator.

Why It Matters

• For investors, the amendment affects how the Trust’s BNB staking is conducted and the fee charged to validate staking rewards. A 4% validator fee will reduce net staking returns received by the Trust.
• The change is limited to the validator designation and fee; the rest of the custody arrangement with BitGo remains in force, suggesting no broader custody changes were made in this filing.