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VanEck has launched the first US-listed spot exchange-traded product offering exposure to Avalanche’s native token AVAX.
The fund trades under the ticker VAVX and tracks the price of AVAX while potentially generating returns through staking.
VanEck said the product is not registered under the Investment Company Act of 1940 but remains subject to other US securities laws.
Sponsor fees will be waived on the first $500 million in assets until February 28, after which a 0.20% fee will apply.
“The ETF wrapper opens access for institutions and wealth managers to capture network yield without managing infrastructure,”
Kyle DaCruz said.
Avalanche is an open-source blockchain developed by Ava Labs and designed for decentralised applications and smart contracts.
AVAX was trading near $11.76 at launch, down sharply from its 2021 all-time high, according to market data.
The launch follows earlier regulatory filings by VanEck and Nasdaq to list an Avalanche ETF in the United States.
Other issuers, including Grayscale and Bitwise, have proposed Avalanche spot ETFs that remain under regulatory review.
The move reflects a broader expansion of crypto ETFs beyond simple price exposure into yield and strategy-based products.
At the time of reporting, Avalanche price was $11.79.