VanEck launches Avalanche ETF VAVX

VanEck launches first US-listed Avalanche ETP with fee waiver

VanEck has launched the VanEck Avalanche ETF (ticker: VAVX), the first exchange-traded product in the United States to offer direct exposure to the Avalanche token, AVAX, including potential returns from staking.

The fund aims to track the price performance of AVAX as well as staking rewards, net of expenses. According to the prospectus, staking will involve a portion of the trust’s AVAX holdings, though this introduces risks such as lock-up periods, validator failures, operational issues, and regulatory uncertainty.

VanEck said it would waive all sponsor fees on the fund’s first $500mn in assets or until 28 February, whichever comes first. After that, the fee will be 0.20 per cent.

Kyle DaCruz, Director of Digital Assets Product at VanEck, said: “We’re excited to launch VAVX to provide investors with a transparent, exchange-traded vehicle to access a network that we believe will drive the next phase of institutional blockchain adoption.”

VAVX is not registered under the Investment Company Act of 1940, and therefore does not carry the same regulatory protections as traditional exchange-traded funds or mutual funds.

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The fund is sponsored by VanEck Digital Assets, LLC, with Van Eck Securities Corporation acting as marketing agent. Both are subsidiaries of Van Eck Associates Corporation.

VanEck said investors should read the prospectus carefully before investing and cautioned that VAVX may not be suitable for all investors.

The Recap

• VanEck launches VanEck Avalanche ETF offering AVAX exposure.
• Sponsor fees waived for first $500 million in assets.
• Fee waiver applies until 28 February, then 0.20% sponsor fee.