First Avalanche ETF hits US markets as VanEck launches AVAX fund
The Block
VanEck launched the first U.S.-listed ETF tracking Avalanche's AVAX token, which includes potential staking rewards.Summary
VanEck has launched the VanEck Avalanche ETF (ticker: VAVX), marking the first exchange-traded fund in the U.S. to track the price return and potential staking rewards of Avalanche's native token, AVAX. Avalanche, launched by Ava Labs in 2020, is an EVM-compatible blockchain designed to improve scalability and interoperability.
VanEck Director of Digital Assets Kyle DaCruz highlighted Avalanche's unique architecture for bridging traditional finance and the on-chain economy. The fund's sponsor fee will be waived for the first $500 million in assets or until February 28, after which it will be 0.20%. This launch follows VanEck's previous crypto ETF offerings for Bitcoin, Ethereum, and Solana.
(Source：The Block)