VanEck updates Avalanche ETF application to include staking rewards

VanEck has updated its application for the Avalanche ETF (VAVX) to include staking rewards, planning to stake up to 70% of its AVAX holdings. The fund will use a certain exchange's Crypto Services as the initial staking service provider and pay a 4% service fee. The rewards will belong to the fund and be reflected in its net asset value. If approved, the fund will be traded on Nasdaq under the VAVX ticker, track the price of AVAX through a custom index, and be custodied by regulated providers such as Anchorage Digital and a certain exchange's Custody.