The crypto asset management company Bitwise has submitted an updated S-1 filing to the SEC in preparation for the launch of its Avalanche ETF. The filing reveals details such as management fees, stock codes, and fee waiver policies. Driven by this news and the overall rise in the crypto market, the AVAX price has increased by more than 7% over the past 24 hours, with a weekly rise of over 17%, reported at $14.94, and the 24-hour volume has also risen nearly 15%.
According to the latest documents, Bitwise plans to list on the NYSE Arca with the stock code “BAVA.” The fund management fee is 0.34%, and it offers a one-month full management fee waiver or a waiver of management fees until the assets under management reach $500 million. This is similar to its other altcoin ETFs. If approved, the fund will provide investors with AVAX investment opportunities and additional rewards through AVAX staking.
The Bitwise Avalanche ETF will track the AVAX price using the CF Avalanche-US Dollar Reference Rate Index from the Chicago Mercantile Exchange (CME), and plans to offer staking services, with BNY Mellon serving as the cash custodian. Seed capital investor Bitwise Investment Manager expects to purchase 100,000 shares at $25 per share, totaling $2.5 million.
Previously, Bitwise launched XRP and Dogecoin ETFs, attracting attention from the crypto community. Although the Avalanche ETF is set to launch soon, the daily chart price of AVAX remains below the 50-day and 200-day moving averages, needing to reclaim the 50-day moving average at $18.04 to gain upward momentum. CoinGlass data shows that the total open interest in AVAX futures has decreased by 0.5% in the past 24 hours, but open interest has increased by 6% on two major exchanges, indicating mixed sentiment in the derivatives market.
The submission of the S-1 document marks an important progress for Bitwise in promoting the development of cryptocurrency ETFs, while also providing investors with a new investment channel for AVAX. (CoinGape)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ripple Altcoin Maintains Breakout Against Bitcoin, XRP Could See a Price Surge of Over 550%
Ripple altcoin maintains breakout against Bitcoin.
XRP could see a price surge of over 550%.
This could propel the price of XRP to a new ATH target at $10.
The crypto market continues to show strong signals for an explosive altcoin price run phase. This long-held hope that the
CryptoNewsLand6m ago
XRP Price Eyes Final Resistance at $1.53 — Breakdown Risk Toward $0.87 Looms
XRP approaches $1.53 resistance as Wave E nears completion
$1.39 support must hold to maintain bullish structure
Rejection could push XRP down toward $1.09 to $0.87
Ripple’s XRP has reached a decisive moment that traders cannot ignore. Price action now approaches a critical resistance
CryptoNewsLand7h ago
XRP Spot ETFs Record $3.89M Net Inflows in Single Day
Gate News message, April 24 — XRP spot ETFs recorded net inflows of $3.89 million yesterday (April 23), according to SoSoValue data.
Franklin XRP ETF (XRPZ) accounted for the entire daily inflow of $3.89 million, bringing its historical cumulative net inflows to $349 million. As of press time, XRP
GateNews12h ago
Girin Labs Launches XRP Payment Wallet with Doppler Finance Integration, Enabling Real-Time XRPL Settlements
Gate News message, April 23 — Girin Labs has launched the Girin Wallet, integrating Doppler Finance's institutional-grade yield layer to enable XRP and RLUSD payments in everyday transactions. Users can now spend XRP and RLUSD at any Visa-accepting merchant, with transactions settling instantly on t
GateNews19h ago
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand19h ago
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand19h ago
