Bitwise files for first spot Avalanche ETF with staking

Bitwise is pursuing the first-ever spot Avalanche exchange-traded fund (ETF) that would include staking rewards, CoinDesk reported. The asset manager has updated its S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for the proposed fund, which would trade under the ticker BAVA. According to the filing, the ETF plans to stake up to 70% of its AVAX holdings.