Bitwise submits S-1 file to the US SEC for Avalanche ETF
Source: PANews
Time: 2025-09-16 07:11:10
PANews September 16th news, according to The Block, crypto asset management company Bitwise is seeking to launch an ETF that tracks AVAX, a native token of Avalanche blockchain. If the product is approved by the Securities and Exchange Commission (SEC), Coinbase will be designated as the custodian. "The trust provides investors with the opportunity to enter the Avalanche market through traditional brokerage accounts, avoiding the barriers or risks that may face when buying and holding Avalanche directly," Bitwise wrote in an S-1 filing filed on Monday. The fund will use the CME CF Avalanche-USD reference rate to determine its net asset value (NAV). The fund will hold AVAX tokens and will not use derivatives.