The crypto asset management company Bitwise has submitted an updated S-1 filing to the SEC in preparation for the launch of its Avalanche ETF. The filing reveals details such as management fees, stock codes, and fee waiver policies. Driven by this news and the overall rise in the crypto market, the AVAX price has increased by more than 7% over the past 24 hours, with a weekly rise of over 17%, reported at $14.94, and the 24-hour volume has also risen nearly 15%.
According to the latest documents, Bitwise plans to list on the NYSE Arca with the stock code “BAVA.” The fund management fee is 0.34%, and it offers a one-month full management fee waiver or a waiver of management fees until the assets under management reach $500 million. This is similar to its other altcoin ETFs. If approved, the fund will provide investors with AVAX investment opportunities and additional rewards through AVAX staking.
The Bitwise Avalanche ETF will track the AVAX price using the CF Avalanche-US Dollar Reference Rate Index from the Chicago Mercantile Exchange (CME), and plans to offer staking services, with BNY Mellon serving as the cash custodian. Seed capital investor Bitwise Investment Manager expects to purchase 100,000 shares at $25 per share, totaling $2.5 million.
Previously, Bitwise launched XRP and Dogecoin ETFs, attracting attention from the crypto community. Although the Avalanche ETF is set to launch soon, the daily chart price of AVAX remains below the 50-day and 200-day moving averages, needing to reclaim the 50-day moving average at $18.04 to gain upward momentum. CoinGlass data shows that the total open interest in AVAX futures has decreased by 0.5% in the past 24 hours, but open interest has increased by 6% on two major exchanges, indicating mixed sentiment in the derivatives market.
The submission of the S-1 document marks an important progress for Bitwise in promoting the development of cryptocurrency ETFs, while also providing investors with a new investment channel for AVAX. (CoinGape)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitwise XRP ETF Leads Market With $426M in Cumulative Inflows as XRP ETF Assets Surpass $1B
Gate News message, April 25 — Bitwise's XRP ETF has emerged as the clear market leader in the growing XRP-linked investment product space, pulling in consistent net inflows while competing funds struggle to sustain momentum. According to market tracker Xaif Crypto, Bitwise's XRP ETF recorded net inf
GateNews8h ago
XRP Ledger Records $1.1B Net Inflows Over 30 Days, Surpassing Ethereum's $879M
Gate News message, April 25 — XRP Ledger topped all major blockchains (excluding stablecoins) in net capital inflows over the past 30 days, drawing $1.1 billion according to data from RWA.xyz. Ethereum trailed at approximately $879 million in inflows, followed by Stellar with $643 million and BNB
GateNews9h ago
XRP Price Compression Signals Imminent Breakout as Traders Pause
Key Insights
XRP trades in a compressed range with tightening volatility, signaling a potential breakout phase as market participation slows and price action stabilizes.
Open interest dropped sharply from over $10 billion to $2.5 billion, reflecting reduced leverage and weakening
CryptoNewsLand10h ago
XRP Breakout Holds as XRPL Lending Vote Gains Momentum
Key Insights
XRP maintains weekly strength above major cryptocurrencies as price holds above key EMAs, reflecting sustained momentum despite minor daily declines in trading sessions.
XRPL validators advance lending upgrades through XLS-65 and XLS-66, introducing pooled liquidity vaults and f
CryptoNewsLand11h ago
XRP Breakout Holds as XRPL Lending Vote Gains Momentum
XRP shows weekly strength, trading above EMAs after breaking from a descending wedge; XRPL advances XLS-65/66 lending upgrades with pooled vaults and fixed-term loans; derivatives rise in volume, open interest, and options activity.
Abstract: This report notes XRP's persistent weekly momentum and price strength above key moving averages following a breakout from a descending wedge. It covers XRPL validators voting on XLS-65 and XLS-66, enabling native lending, pooled liquidity vaults, and fixed-term loans to expand on-chain financial activity. It also reports rising derivatives participation, with higher trading volume, open interest, and a surge in options activity, suggesting increasing trader positioning for a continued breakout.
CryptoNewsLand11h ago
XRP Price Nears $1.50 Breakout as Triangle Tightens
Key Insights:
XRP consolidates within a symmetrical triangle, with tightening price action suggesting a potential breakout toward higher resistance levels as bullish momentum continues building.
Supertrend turning green and MACD rising indicate increasing buying pressure, supporting a bullis
CryptoNewsLand12h ago
