Bitwise, Avalanche 
$14.94 It is preparing to launch its first U.S. spot ETF based on (AVAX). The updated S-1 form filed with the U.S. Securities and Exchange Commission (SEC) revealed critical information, from the ETF’s trading symbol to its management fee. While the ETF is planned to be listed on NYSE Arca under the code BAVA, no fund management fee will be charged for the first month.
Bitwise Shares Final Details for Avalanche ETF
Managing $15 billion in assets Bitwisefiled first correction with the SEC for the spot Avalanche ETF. presented. If approved, the ETF will give investors direct access to the price and staking returns of the AVAX coin. While the fund management fee is determined as 0.34 percent, no fee will be charged until the ETF reaches an asset size of $ 500 million or for the first month. This policy applies to Bitwise’s other altcoin It matches the strategy he employs in his ETFs.
BAVA It was noted that the phrase “delaying amendment” has not been removed yet in the application of the ETF, which will be traded on NYSE Arca with the code. Despite new guidance from the SEC’s Corporate Finance Division, the revision process of the file continues. Although this means that the approval schedule will not be clear in the short term, it indicates that the technical preparations of the ETF have been completed.
Coinbase Custody Trust Companyassumed custody of AVAX assets, while BNY Mellon was designated as the custodian of cash assets. As part of the initial seeding process, Bitwise Investment Manager will purchase 100,000 shares in return for an investment of $2.5 million.
50-Day Average Still Critical Threshold in AVAX Coin
Progress on Bitwise’s Avalanche ETF application AVAX coinIt created a strong reaction in the price of . The altcoin, which has gained more than 7 percent in the last 24 hours, is trading at $ 14.94. AVAX, which increased by 17 percent on a weekly basis, moves in the range of $ 13.93-14.99. The 15 percent increase in transaction volume indicates a revival of investor interest.
According to technical indicators, AVAX is still below the 50-day moving average ($18.04). For the rise to be sustainable, the price must regain this level. CoinGlass data derivative marketIt reveals a mixed view. While total open positions decreased to 612 million dollars, there was a 6 percent increase in Binance and OKX.
With ETF approval, AVAX is expected to attract stronger institutional investor interest and staking returns will set a new ground for market value. Bitwise’s review of XRP and Dogecoin last week 
$0.154092 The launch of its ETFs has also increased optimism about the approval process of the Avalanche ETF.
