Summary
- Bitwise said it has completed corporate registration for an Avalanche (AVAX) ETF in the U.S. state of Delaware.
- They said this registration is not an official ETF filing procedure and is a step taken prior to applying to regulators.
- They said Delaware is a preferred location for establishing financial and investment funds due to tax benefits and flexible corporate structures.
On the 5th (local time), according to crypto asset (cryptocurrency) specialist media Crypto Briefing, crypto asset asset manager Bitwise has completed corporate registration in the U.S. state of Delaware for an Avalanche (AVAX) exchange-traded fund (ETF).
This registration is not an official ETF filing procedure and is interpreted as a preliminary step before submitting ETF application documents to regulators.
Delaware is regarded as a location where many financial and investment funds establish corporations due to tax benefits and flexible corporate structures.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Exclusive] FSS to examine ZKsync coin that surged '1,000%' in three hours](https://media.bloomingbit.io/PROD/news/1da9856b-df8a-4ffc-83b8-587621c4af9f.webp?w=250)
