Bitwise Files for Spot Avalanche ETF to Boost $2B AVAX Institutional Access
Bitwise has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Avalanche (AVAX) exchange-traded fund (ETF)...
Quick overview
- Bitwise has filed with the SEC to launch a spot Avalanche (AVAX) ETF, allowing institutional investors to access AVAX through brokerage accounts.
- The ETF structure includes direct AVAX custody, a basket system for shares, and daily NAV tracking, ensuring transparency and security.
- Bitwise's filing adds to the competitive landscape for Avalanche ETFs, with other firms like VanEck and Grayscale also seeking approval.
- Strong network activity and plans for liquidity support from the Avalanche Foundation indicate potential growth for the AVAX ecosystem.
Bitwise has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Avalanche (AVAX) exchange-traded fund (ETF), a major step in opening up the ecosystem to institutions. The Form S-1 filed on September 15, 2025 outlines a trust-based ETF that allows investors to get exposure to AVAX through regular brokerage accounts.
The filing says the ETF “gives investors access to Avalanche without the hurdles or risks of direct ownership,” a regulated way to invest in the token. By holding AVAX directly rather than through derivatives, Bitwise ensures the fund tracks the underlying asset’s value transparently.
$AVAX Bitwise CIO Matt Hougan predicts year-end #crypto rally fueled by SEC tailwinds Bitwise files for spot #Avalanche ETF. $AVAX #crypto
— Akibu Yahaya (@Akibuyahya21) September 17, 2025
ETF Structure and Institutional Security
Bitwise’s ETF is designed for institutions that can’t own crypto directly or don’t have the infrastructure to manage private keys. Key features include:
- Direct AVAX custody: No derivatives, holding tokens in trust
- Basket system: Shares issued and redeemed in blocks of 10,000
- NAV tracking: Follows the CME CF Avalanche–Dollar Reference Rate, updated daily
- Custodian: Coinbase Custody Trust Company under NY banking law
- Security: Assets stored in segregated accounts with cold storage
This provides institutions with regulated, high-security access to AVAX without operational complexity.
Bitwise files to launch a spot Avalanche ETF with the SEC, putting $AVAX in line with $Bitcoin and $Ethereum for the next wave of institutional crypto access.
Rival firms are now watching closely. What’s at stake? pic.twitter.com/WF10pS52Il
— cryptoScoping (@cyptoscoping) September 16, 2025
Institutional Interest and Network Activity
Bitwise joins other asset managers seeking Avalanche ETF approval. VanEck filed an S-1 in March 2025 and Grayscale applied in August 2025 to convert its Avalanche Trust into a Nasdaq-listed spot ETF. Neither has been approved yet, so the race is on for regulated AVAX exposure.
On-chain metrics show strong network activity, with DEX volume over $2 billion for eight weeks in a row—the first time since 2021. The Avalanche Foundation also announced plans to raise $1 billion to fund two U.S.-based treasury entities that will buy AVAX at a discount, providing liquidity and confidence in long-term network growth.
With Bitwise’s filing, institutions are now able to get access to Avalanche through secure, regulated channels and potentially boost both market liquidity and adoption for the AVAX ecosystem.
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