VanEck Files Final Amendments for Avalanche ETF Ahead of Launch
- VanEck submitted a third amendment to its S-1 form for a proposed Avalanche ETF, seeking SEC approval.
- The ETF plans to track AVAX price and has a management fee of 0.30%, lower than Bitwise’s fee of 0.34%.
- Coinbase Crypto Services will provide staking services, deducting a fee of 4% from staking rewards.
- If approved, the ETF will trade on Nasdaq under the ticker symbol VAVX.
- AVAX price increased by over 5% in the last day, trading at $11.97 after a recent decline.
The VanEck Avalanche ETF aims to reflect AVAX price performance and staking rewards while awaiting SEC approval under Generic listing guidelines. The investment strategy includes using the MarketVector Avalanche Benchmark Rate index for tracking.
With AVAX trading at $11.97 after a significant rebound, the upcoming ETF launch could attract more investor interest in Avalanche assets.(Source)
