Bitwise Files Spot Avalanche ETF Ticker BAVA and Low Fees Revealed

• Bitwise files spot Avalanche ETF with ticker BAVA and 0.34% management fee, waived under $500M AUM.
• Initial launch: 100,000 shares at $25 each, totaling $2.5 million, reflecting confidence in AVAX adoption.
• AVAX price jumped nearly 7% following the ETF announcement, signaling growing retail and institutional interest.

Bitwise, a reputable crypto asset manager, has moved a step further in the emerging field of altcoin ETFs with the filing of a spot ETF for Avalanche (AVAX) with the United States’ Securities and Exchange Commission (SEC). The filing includes new information about the proposed ETF’s ticker symbol and fees.

Shortly after the update, AVAX price jumped nearly 7%. Currently, AVAX is trading at $14.95, up 7.16% over the last 24 hours, with a 24-hour trading volume of $806.68 million and a market capitalization of $6.41 billion.