Bitwise Updates Avalanche ETF Filing as AVAX Surges Over 7%

• Bitwise advances Avalanche ETF with updated S-1 detailing fees, staking, and seed capital.
• AVAX climbs over 7% as ETF progress aligns with broader digital-asset market recovery.
• NYSE Arca also certifies Bitwise Dogecoin ETF, marking a busy week for new crypto funds.

Bitwise has taken another step toward bringing an Avalanche exchange-traded product to the U.S. market, submitting an amended S-1 that outlines updated structural information, fee arrangements, and seed-capital terms.

The filing arrives during a period of elevated activity across the firm’s product lineup, including newly listed XRP and Dogecoin funds, and comes as AVAX recorded a price jump of more than 7% following a technical breakout and stronger sentiment across the digital-asset market.

Updated Fee Structure and Listing Arrangements

The amended S-1 affirms a 0.34% management fee for the spot Avalanche ETF, with a full waiver in place for the first month or until assets reach $500 million. The structure mirrors what the issuer has implemented across other recently introduced altcoin-focused ETFs.

According to the filing, the proposed fund is expected to trade on NYSE Arca under the ticker “BAVA.” The trust intends to hold AVAX directly and receive staking rewards tied to the network. The product will track the CME CF Avalanche-Dollar Reference Rate to determine net asset value.

Custody, Seed Capital, and Operational Roles

Coinbase Custody Trust Company is designated to safeguard the fund’s Avalanche assets, while BNY Mellon will manage cash custody. Bitwise Investment Manager is listed as the seed investor and plans to supply the initial capital by purchasing 100,000 shares at $25 each, totaling $2.5 million.

The filing reconfirms that staking will serve as a secondary objective of the ETF. AVAX held within the trust may participate in staking to generate additional yield, subject to regulatory allowances.

Earlier Filings and Market Context

Bitwise initially joined VanEck and Grayscale in submitting an Avalanche ETF application in September. In October, the clearinghouse DTCC added the Avalanche ETF to its website, a step often viewed as preparatory for listing on NYSE Arca once regulatory approval is granted.

The Avalanche filing follows a week of heightened ETF-related activity for Bitwise. NYSE Arca certified the listing and registration of the Bitwise Dogecoin ETF under the ticker “BWOW,” clearing the way for trading to begin as early as Wednesday. The certification came shortly after the launches of Grayscale’s Dogecoin ETF and the REX-Osprey DOGE ETF, the latter registered under the Investment Company Act of 1940.