Bitwise has updated the filing documents for its spot Avalanche ETF with the Securities Exchange Commission (SEC). This amendment changes the code of the Avalanche ETF to BAVA and sets the sponsorship rate at 0.34%, currently the lowest among congeneric products. This compares to VanEck's Avalanche ETF rate of 0.4% and grey release's 0.5%.
The updated S-1 filing also said it would allow the trust to pledge up to 70 per cent of its AVAX holdings on Avalanche's proof-of-stake network to earn additional tokens. However, the issuer is considering deducting 12 per cent of the proceeds as fees, with the remainder distributed to shareholders. Rivals are not yet in the business of pledging, so far their fees are limited to sponsorship fees.
Bitwise is also offering a full fee waiver for the first $500 million of assets in the first month, aiming to position BAVA as the least expensive way for traditional investors to access Avalanche exposure and pledged income.
Bitwise updates its application documents for the spot Avalanche ETF to include a staking feature
2025-11-27 23:35:02
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