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Bitwise Reveals Fee Details and Ticker for Upcoming Avalanche ETF as AVAX Surges

MarketDash Editorial Team
10 days ago
Bitwise has filed an updated S-1 with the SEC detailing its proposed Avalanche ETF, including a 0.34% management fee that will be waived for the first month or until assets hit $500 million. The fund would trade as BAVA on NYSE ARCA.

Bitwise is inching closer to launching its spot Avalanche ETF, and the firm just gave investors something concrete to chew on. In an updated S-1 filing with the Securities and Exchange Commission, the asset manager laid out key details including the fee structure, ticker symbol, and how the fund would actually work.

The proposed ETF will carry a 0.34% management fee, which sounds reasonable enough in the ETF world. But here's the kicker: investors won't pay that fee for a while. Bitwise plans to waive the entire management fee for one month, or until the fund balloons to $500 million in assets, whichever comes first. It's the same playbook the $15 billion crypto asset manager has used for its other altcoin ETF launches, essentially giving early adopters a free ride.

If the SEC gives the green light, the fund would trade on NYSE ARCA under the ticker BAVA and provide exposure to AVAX (AVAX), along with staking rewards as a secondary objective. The ETF would track the CME CF Avalanche-Dollar Reference Rate index, giving investors a regulated way to bet on Avalanche's native token.

The custody arrangements are pretty standard for crypto ETFs these days. Coinbase Custody Trust Company will handle the actual Avalanche holdings, while BNY takes care of the cash side. Bitwise Investment Manager plans to seed the fund with $2.5 million, purchasing 100,000 shares at $25 apiece to get things rolling.

The market seems to like what it's hearing. AVAX has jumped more than 8% since Wednesday's announcement, riding both a broader crypto rebound and growing excitement around the potential ETF launch. Bitwise joins VanEck and Grayscale in the race to bring an Avalanche ETF to market, all three having filed applications earlier this year.

This filing comes just one week after Bitwise launched its Bitwise XRP ETF (XRP) and Dogecoin ETF (BWOW), products that made waves in the crypto community and highlighted how aggressively the firm has pushed into altcoin-themed offerings. The XRP ETF launch was particularly crowded, with Franklin XRP ETF (XRPZ), Canary Capital XRP ETF (XRPC), and Grayscale XRP Trust ETF all hitting the market around the same time in November.

The speed at which these products are arriving suggests the ETF market for alternative cryptocurrencies is heating up fast, with asset managers racing to capture investor demand for exposure beyond Bitcoin and Ethereum.

Back to News

Bitwise Reveals Fee Details and Ticker for Upcoming Avalanche ETF as AVAX Surges

MarketDash Editorial Team
10 days ago
Bitwise has filed an updated S-1 with the SEC detailing its proposed Avalanche ETF, including a 0.34% management fee that will be waived for the first month or until assets hit $500 million. The fund would trade as BAVA on NYSE ARCA.

Bitwise is inching closer to launching its spot Avalanche ETF, and the firm just gave investors something concrete to chew on. In an updated S-1 filing with the Securities and Exchange Commission, the asset manager laid out key details including the fee structure, ticker symbol, and how the fund would actually work.

The proposed ETF will carry a 0.34% management fee, which sounds reasonable enough in the ETF world. But here's the kicker: investors won't pay that fee for a while. Bitwise plans to waive the entire management fee for one month, or until the fund balloons to $500 million in assets, whichever comes first. It's the same playbook the $15 billion crypto asset manager has used for its other altcoin ETF launches, essentially giving early adopters a free ride.

If the SEC gives the green light, the fund would trade on NYSE ARCA under the ticker BAVA and provide exposure to AVAX (AVAX), along with staking rewards as a secondary objective. The ETF would track the CME CF Avalanche-Dollar Reference Rate index, giving investors a regulated way to bet on Avalanche's native token.

The custody arrangements are pretty standard for crypto ETFs these days. Coinbase Custody Trust Company will handle the actual Avalanche holdings, while BNY takes care of the cash side. Bitwise Investment Manager plans to seed the fund with $2.5 million, purchasing 100,000 shares at $25 apiece to get things rolling.

The market seems to like what it's hearing. AVAX has jumped more than 8% since Wednesday's announcement, riding both a broader crypto rebound and growing excitement around the potential ETF launch. Bitwise joins VanEck and Grayscale in the race to bring an Avalanche ETF to market, all three having filed applications earlier this year.

This filing comes just one week after Bitwise launched its Bitwise XRP ETF (XRP) and Dogecoin ETF (BWOW), products that made waves in the crypto community and highlighted how aggressively the firm has pushed into altcoin-themed offerings. The XRP ETF launch was particularly crowded, with Franklin XRP ETF (XRPZ), Canary Capital XRP ETF (XRPC), and Grayscale XRP Trust ETF all hitting the market around the same time in November.

The speed at which these products are arriving suggests the ETF market for alternative cryptocurrencies is heating up fast, with asset managers racing to capture investor demand for exposure beyond Bitcoin and Ethereum.