Bitwise debuts Avalanche ETP offering AVAX exposure and yield
Bitwise Asset Management launched a spot Avalanche exchange-traded product, BAVA, on the NYSE, providing investors with exposure to AVAX and yield through staking. The fund holds AVAX directly and stakes a portion of its holdings to generate rewards.
Bitwise Asset Management has launched a spot Avalanche exchange-traded product (ETP), BAVA, on the NYSE. The fund provides investors with exposure to the Avalanche token (AVAX) and generates yield through staking. Bitwise plans to stake around 70% of its AVAX holdings, maintaining a 30% liquidity reserve. BAVA began trading on Wednesday, closing up 1.5% at $25.50 per share. The fund carries a 0.34% sponsor fee, waived to 0% for the first month on the first $500 million in assets. Avalanche is a Layer-1 blockchain used in tokenization and enterprise pilots, including initiatives tied to FIFA and projects from companies like Toyota and BlackRock.
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