Overview
- An amended S-1 says the proposed VAVX fund may stake up to 70% of its AVAX holdings.
- Coinbase Crypto Services is named as the initial staking provider with a 4% service fee.
- Staking rewards, after fees, would accrue to the fund and be reflected in its net asset value.
- Custody is slated for regulated cold-storage providers including Anchorage Digital and Coinbase Custody.
- The fund would track AVAX via the MarketVector Avalanche Benchmark Rate, avoid leverage or derivatives, and list on Nasdaq as VAVX if approved, with Bitwise pursuing a similar staking-enabled AVAX ETF.