VanEck files amendment for Avalanche ETF with staking added

Uk Jin

Summary

VanEck said it submitted an amendment to the SEC for an Avalanche (AVAX)-based ETF that includes a staking feature.
It said the ETF is designed to stake a significant portion of the Avalanche it holds on the network to generate on-chain rewards.
It said the ETF would be listed on Nasdaq as 'VAVX' if approved.

Global asset manager VanEck filed an amended registration statement with the U.S. Securities and Exchange Commission (SEC) for the launch of an Avalanche (AVAX)-based exchange-traded fund (ETF).

On the 20th (Korea time), according to Cryptodnis, VanEck recently submitted an amendment for the Avalanche ETF to the SEC. The key point of this amendment is the introduction of a staking function. VanEck designed it so that a significant portion of the Avalanche held by the fund can be staked on the network to generate on-chain rewards. Staking will be operated by 'Coinbase Crypto Services'.

If approved, the ETF would be listed on Nasdaq as 'VAVX'.

AVAX