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Bitwise Debuts Spot AVAX ETF (BAVA), Sees $400,000 Trading Volume in First 90 Minutes

Bitwise on April 16 launched its Spot Avalanche ETF, trading under the ticker BAVA, according to BlockBeats. The fund is designed to hold AVAX tokens directly and plans to stake its AVAX holdings, aiming to distribute average staking rewards of about 5.4% while maintaining liquidity. The spot AVAX ETF posted roughly $400,000 in trading volume during its first 90 minutes on the market. Bloomberg ETF analyst James Seyffart described the early activity as "quite good."
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