Avalanche seeks its place in the market: AVAX ETFs advance in the US stock exchange

Source: Criptonoticias Original Title: Avalanche is following in the footsteps of XRP and Solana on the exchange Original Link: https://www.criptonoticias.com/mercados/avalanche-xrp-solana-etf/ The cryptocurrency Avalanche (AVAX) is positioning itself in the race for an exchange-traded fund (ETF, following in the footsteps already marked by other assets like XRP and Solana )SOL(.

The fund proposed by the firm Bitwise underwent an amendment in the S-1 form that was submitted to the Securities and Exchange Commission of the United States )SEC(. The update introduces changes for the future instrument. The proposed ticker for the AVAX ETF is modified to BAVA and a sponsor fee of 0.34% is established.

On the other hand, the price of AVAX has experienced a boost, rising from 12 dollars to 15 dollars in the last week. This represents an increase of 7%.

![Green and red candlestick chart of AVAX price in the last week.])https://img-cdn.gateio.im/webp-social/moments-94b0957073-29a0ebe472-153d09-cd5cc0.webp(

Avalanche is 89% below its all-time high.

A distinctive element of Bitwise's proposal is the inclusion of staking. The document indicates that the fund will be authorized to employ staking of up to 70% of its holdings in AVAX.

This mechanism would allow the fund to acquire additional assets on the Avalanche proof-of-stake network, providing traditional investors with exposure to the digital asset along with the potential income generated by this activity.

This move by Bitwise is part of a growing wave of cryptocurrency ETF filings seeking to list on the U.S. market. In recent weeks, ETFs for assets like Solana, XRP, and even Dogecoin )DOGE( have reached the exchange.

The Bitwise initiative is not the only attempt. The firm VanEck registered a product called VanEck Avalanche ETF in Delaware as a preparatory step.

Similarly, Grayscale filed a request with the SEC to convert its current AVAX fund into a spot ETF that would be traded on Nasdaq, underscoring institutional interest in bringing the Avalanche digital asset to the stock market.