Key Highlights
- CME halted all markets due to a cooling-system failure at a CyrusOne data center.
- Trading later resumed, but the event exposed structural dependencies in global derivatives infrastructure.
- Recent Cloudflare outages add to investor concerns over centralized technical bottlenecks.
Bitwise Asset Management, a crypto asset management company, has filed an updated Form S-1 with the U.S. Securities and Exchange Commission (SEC) revealing ticker ($BAVA) for its Avalanche (AVAX) ETF, a spot product designed to track AVAX.
The firm says the ETF would allow investors to gain exposure to Avalanche through traditional brokerage accounts instead of holding the token directly.
The fund, seeking approval since mid-September, is expected to list on NYSE Arca under the ticker BAVA and would reference the CME CF Avalanche–Dollar Reference Rate to calculate net asset value.
What Bitwise added in the amended filing
According to the SEC submission, the Avalanche ETF aims to hold AVAX directly and may stake part of the asset, making it one of the first U.S. AVAX ETFs to pursue yield through staking if approved. Coinbase Custody would safeguard the fund’s AVAX reserves, while staking operations would be managed through designated agents operating validator nodes.
The filing outlines how the trust creates and redeems shares in 10,000-unit baskets, its 0.34% management fee, and a temporary one-month fee waiver for the first $500 million in assets.
Recent Bitwise Dogecoin ETF
The updated Avalanche filing comes days after Bitwise launched the Bitwise Dogecoin ETF (BWOW) on NYSE Arca.
The fund went live on November 26 with a 0.34% management fee and SEC approval following a delayed review process. BWOW gives investors exposure to Dogecoin without the need to self-custody the asset, mirroring Bitwise’s broader strategy to expand accessible crypto vehicles in regulated markets.
Enterprise momentum
Interest in staking-enabled ETFs is rising. Market data circulated this week shows Bitwise’s updated Avalanche application could permit staking of up to 70% of held AVAX, a feature no U.S. crypto ETF has implemented at scale.
Other asset managers are also expanding product lines. Grayscale recently filed to convert its Zcash Trust into a spot ZEC ETF, seeking to bring another privacy-focused asset under a regulated structure. The move shows rising institutional demand for diversified crypto ETFs beyond Bitcoin and Ethereum.
For investors, the message is simple: wait for the Bitwise Avalanche ETF’s launch and keep a close eye on market shifts as staking-enabled products begin to reshape the competitive landscape.
Also Read: Spot Solana ETFs Break 20 Days Streak and Sees First Daily Outflow
