The revised filing sets the BAVA ticker and positions the fund as the lowest-cost option in a growing competitive field.
Avalanche News
Bitwise has submitted updated documentation to securities regulators for an AVAX fund that would mark the first U.S. exchange-traded product offering staking yields. The revised filing sets the BAVA ticker and positions the fund as the lowest-cost option in a growing competitive field.
Annual management fees land at 0.34%, undercutting VanEck's 0.40% charge and Grayscale's 0.50% rate. The fund plans to allocate as much as 70% of holdings to Avalanche's proof-of-stake validation system to generate additional tokens for shareholders.
Bitwise would retain 12% of staking proceeds to cover operational expenses, distributing the remainder to investors. Competing products currently lack yield-generation capabilities, limiting their fee structures to management charges alone.
New investors receive complete fee waivers for 30 days on the first $500 million in assets. The promotion targets traditional market participants seeking both price exposure and passive income from cryptocurrency holdings.
Recent Internal Revenue Service guidance eliminated tax complications previously blocking staking within fund structures. The clarification allows ETF managers to incorporate validation rewards without creating adverse consequences for shareholders.
Updated paperwork introduces liquidity buffers and strengthened custody arrangements with Coinbase handling asset safekeeping. New risk warnings address quantum computing vulnerabilities and recent security breaches affecting exchange platforms.
Regulatory clearance would send BAVA to NYSE Arca for trading. VanEck and Grayscale plan NASDAQ listings for their competing products, with all three targeting first-quarter 2026 launches.
Fund companies are differentiating through cost structures and features as they compete for market share. Staking capability provides BAVA a distinct advantage for yield-focused investors beyond simple price appreciation.
Avalanche operates on proof-of-stake validation, allowing token holders to secure the network and collect rewards. Running validator infrastructure demands technical knowledge and capital commitments that ETF products eliminate for mainstream investors seeking simplified access to the ecosystem.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
