Bitwise file S-1 for Spot Avalanche (AVAX) ETF

Bitwise Asset Management don drop one S-1 registration statement for the US SEC to launch one spot Avalanche (AVAX) ETF. The proposed Avalanche ETF go hold real AVAX tokens, e go track net asset value via the CME CF Avalanche-Dollar Reference Rate. Coinbase Custody Trust Company, wey dey regulated under New York banking law, go store tokens for separate cold storage. Shares go dey issued for 10,000-share baskets, wey fit redeem for cash or AVAX. Other asset managers like VanEck and Grayscale don submit similar AVAX ETF proposals, wey mean say institutional interest for altcoin ETFs dey increase. AVAX recently dey trade above $30, e get 6% one-day gain, but e still down over 50% from the all-time high. Approval for this regulated Avalanche ETF dey wait for SEC review and possible amendments. Traders suppose dey watch filing updates, custodian arrangements, and AVAX price movements, as approved ETF fit boost liquidity and price discovery for Avalanche ecosystem.