Bitwise updated an SEC filing to launch a spot Avalanche (AVAX) ETF to trade on NYSE Arca under ticker BAVA if approved. The fund carries a 0.34% management fee (waived for the first month or until assets reach $500M), will track the CME CF Avalanche–Dollar Reference Rate for AVAX pricing, uses Coinbase Custody Trust Company for token custody and BNY Mellon for cash operations, and will be seeded with 100,000 shares at $25 each ($2.5M). After the filing, AVAX rose nearly 7% to about $15; technical notes in the report cite a 50-day moving average at $18, upside targets of $22 and $28, and support around $14 (break could target $12).

Bitwise formally updated an SEC filing to create a spot AVAX ETF (ticker BAVA) with concrete operational details — management fee (0.34%, temporarily waived), pricing reference (CME CF Avalanche–Dollar Reference Rate), custody (Coinbase Custody) and cash operations (BNY Mellon), plus a $2.5M seed — and the filing correlated with a ~7% AVAX price rise to ~$15. These are concrete, market-moving facts likely to influence short-term trading interest.