Derived from Cryptofrontnews, VanEck has amended its S-1 filing with the U.S. Securities and Exchange Commission to include staking rewards for its proposed Avalanche ETF. The fund may stake up to 70% of its AVAX holdings via Coinbase, which will charge a 4% service fee. AVAX will be stored in cold wallets with regulated custodians, including Anchorage Digital and Coinbase Custody. The fund will track AVAX prices using the MarketVector Avalanche Benchmark Rate and will not use leverage or derivatives. The ETF is expected to trade as VAVX on Nasdaq if approved.
VanEck Adds Staking Yield to Proposed Avalanche ETF Filing
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Summary
VanEck has updated its S-1 filing with the SEC to include staking rewards for its proposed Avalanche ETF news. The fund may stake up to 70% of AVAX holdings via Coinbase, which will charge a 4% fee. AVAX will be stored in cold wallets with Anchorage Digital and Coinbase Custody. The fund will track AVAX prices using the MarketVector Avalanche Benchmark Rate and will not use leverage or derivatives. If approved, the ETF news will trade as VAVX on Nasdaq.
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