Summary
- The first spot ETF in the US with Avalanche (AVAX) as its underlying asset is set to list on Nasdaq.
- VanEck said it would list “VAVX,” the first US spot AVAX ETF, on Nasdaq on the 26th.
- The ETF will generate rewards by staking a portion of its AVAX holdings and said it will waive the management fee for the initial $500 million in assets.
The first spot exchange-traded fund (ETF) in the US based on Avalanche (AVAX) as its underlying asset is set to list on Nasdaq.
According to crypto-focused media outlet The Blockbeats on the 26th, ETF issuer VanEck said it would list “VAVX,” the first US spot AVAX ETF, on Nasdaq that day.
The outlet said the ETF is structured to generate rewards by staking a portion of its AVAX holdings during management, and to pass those rewards on to investors after fees. VanEck previously said it would waive the management fee for the initial $500 million in assets flowing into the ETF.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
