Bitwise Files Updated S-1 for Spot Avalanche ETF with SEC

Bitwise Asset Management is set to launch a spot Avalanche ETF, filing an updated S-1 with the US SEC. Key details include:

Management fee of 0.34%, initially waived for one month or until reaching $500 million AuM.
ETF to be listed under ticker "BAVA" on NYSE Arca.
Designed to offer AVAX exposure with staking rewards.

The price of AVAX increased by 6.7% following the announcement, trading at $14.94, despite being down 26% over the past 30 days. This reflects renewed investor interest as the broader crypto market recovers.

Other firms like VanEck and Grayscale have also filed for Avalanche ETFs, with potential listings on NASDAQ and Coinbase acting as broker and custodian.