VanEck expands crypto ETF lineup with spot Avalanche product
The newly launched fund offers exchange-traded exposure to AVAX as other proposed Avalanche ETFs remain under regulatory review.
Global asset manager VanEck has launched a US-listed exchange-traded product offering exposure to Avalanche’s native token, AVAX (AVAX), marking the first spot Avalanche ETF to trade in the United States.
According to Monday’s announcement, the product is not registered under the Investment Company Act of 1940, though it may be subject to other US securities laws.
The fund will trade under the ticker VAVX, tracking the price of Avalanche’s AVAX token and potentially generating returns through staking. VanEck said it will waive sponsor fees on the ETF’s first $500 million in assets through Feb. 28. Assets over $500 million before Feb. 28 will be charged a 0.20% sponsor fee, which will apply to all assets after that date.
