Avalanche Jumps 55% as Bitwise's Staked AVAX ETF Sees Early Inflows
- —Bitwise launched the first spot Avalanche ETF, ticker BAVA, on NYSE Arca
- —About 70% of fund holdings are staked, targeting 5.4% average rewards
- —BAVA AUM reached $18–22 million after launch, with single-day inflows near $5 million
- —AVAX rose 55% on the week, trading near $9.50 with a $4.1 billion market cap
Why it matters: The staking ETF sets a template for future crypto funds and creates structural demand for AVAX while locking up part of its supply.
Source: Crypto Briefing