TechFlow, Nov. 28 — According to CoinDesk, Bitwise has updated its filing with the U.S. Securities and Exchange Commission (SEC) for its spot Avalanche ETF. The revision changes the ETF's ticker symbol to BAVA and sets the management fee at 0.34%, which is relatively low compared to similar products.
The updated S-1 filing shows that the fund will allow staking of up to 70% of its AVAX holdings to earn additional tokens under Avalanche's proof-of-stake mechanism. Bitwise plans to charge a 12% fee on staking rewards, with the remainder distributed to shareholders.
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