VanEck Updates AVAX Spot ETF Application, Introduces Staking Rewards Mechanism

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VanEck has updated its application for the AVAX Spot ETF (ticker VAVX) as of December 21, introducing a staking reward mechanism that will stake 70% of its AVAX holdings to generate yield for investors. The VAVX ETF will use Coinbase Crypto Services as its initial staking provider, with a 4% service fee. Staking rewards will accrue to the fund and be reflected in its net asset value (NAV). Custodians for the ETF are Anchorage Digital and Coinbase Custody.

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