Avalanche ETF fund is set to be approved as Bitwise updates the filing.

AVAX investors have just received one of the strongest signals indicating that institutional demand for the Avalanche ecosystem is accelerating significantly. Bitwise has officially submitted an updated S-1 filing to the America (SEC), completing the structure for the Avalanche spot ETF with the trading code BAVA on the NYSE Arca.

This ETF fund has a management fee of 0.34%, but Bitwise will waive it entirely in the first month or until the asset size reaches 500 million USD, in order to attract early capital inflows. Notably, the ETF not only tracks the price of AVAX but also integrates staking rewards, allowing institutional investors to access yields right within the ETF framework.

Following the above information, the price of AVAX has surged as the competition for the launch of the first Avalanche ETF among major issuers intensifies. If needed, I can shorten or edit it according to a more in-depth journalistic style.