VanEck's new Avalanche ETF filing to include staking rewards for AVAX investors

VanEck has amended its S-1 filing with the SEC for its proposed Avalanche exchange-traded fund, VAVX, to incorporate staking rewards to generate yield for investors. The fund may stake up to 70% of its AVAX holdings, utilizing Coinbase Crypto Services as the initial staking provider, which will charge a 4% service fee. Any resulting rewards, after the fee, will accrue to the fund and be reflected in its net asset value (NAV). The AVAX tokens held by the fund will be secured by regulated custodians like Anchorage Digital and Coinbase Custody in cold storage. The ETF will track the price of AVAX via the custom MarketVector Avalanche Benchmark Rate and will not use leverage or derivatives; if approved, it will trade on Nasdaq under the ticker VAVX. This move follows a similar update by Bitwise regarding its spot Avalanche ETF filing.

(Source：CoinDesk)