New US listed fund tracks AVAX as VanEck waives sponsor fees on the first $500 million in assets.
VanEck launched the VanEck Avalanche ETF on Monday under ticker VAVX, offering US investors exchange traded exposure to Avalanche token AVAX with the potential for staking rewards reflected in fund performance.
According to the prospectus, VAVX is expected to list on Nasdaq under existing generic listing standards, allowing the product to come to market without a separate SEC rule change filing.
The trust is not registered under the Investment Company Act of 1940 and is designed to passively track the price of AVAX alongside staking returns.
VanEck said it is waiving sponsor fees on the fund’s first $500 million in assets through February 28. After that date or threshold, whichever comes first, the sponsor fee will be set at 0.20%.
The ETF launch comes as VanEck continues to expand its crypto ETF lineup, which already includes spot Bitcoin and Ethereum products.
Avalanche positions itself as a high throughput blockchain built for customizable Layer 1 deployments and enterprise use cases. The network has attracted activity from major institutions, including FIFA’s blockchain initiative and Citigroup’s tokenized fund trial.
AVAX was last trading around $11.7 at press time, up roughly 3% on the day but still down about 14% over the past two weeks amid broader crypto market volatility
