Bitwise launched Avalanche ETF has built-in staking rewards

Two weeks back Bitwise launched their Avalanche ETF. So now AVAX purchases have a built-in staking rewards thru this new ETF.

Bitwises ETF Fund name is 'BAVA'

It trades on the NYSE exchange

Why Avalanche?

Avalanche trades under the ticker of AVAX. AVAX is a high-performance blockchain that enables enterprises and developers to build custom, interoperable blockchains.  Put another way it's an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. These networks allow institutions to set specific rules for governance and access while leveraging Avalanche’s near-instant settlement and low fees. Avalanche has a ecosystem of developers and validators, Avalanche offers a fast, low-cost environment for building decentralized applications (dApps)

Bitwise Avalanche ETF deeper dive

The fund is designed to hold 'spot' AVAX while staking those holdings through Bitwise Onchain Solutions. The staking rewards are designed to payout about 5.4%. Bitwise stated this fund logged nearly $1/2 Million in volume in the first 90-minutes of trading.  The other benefit this fund brings is oversight bringing a level of regulator comfort to retail investors.  Additionally, this fund pushes Bitwise more in the Alt-coin realm providing a broader customer audience than just BTC and ETH offerings.

AVAX current price is about $9, way better than it was last summer when it was in the $22-$25 range. Will you review this BAVA fund?

Summary

Bitwise brought their Avalanche ETF to market and it was well received on initial day.  It goes without saying the Bitwise Avalanche ETF (BAVA) is not suitable for all investors. You must do your own research (DYOR) and decide if and where it fits in your financial portfolio.

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