Bitwise has submitted an amendment to its S-1 filing with the US Securities and Exchange Commission (SEC). This amendment provides crucial details regarding its upcoming Avalanche ETF, including the management fee, ticker symbol, and a fee waiver.
Key ETF Details Revealed
The S-1 amendment discloses that the management fee for the Avalanche ETF will be 0.50%. Furthermore, Bitwise has announced a fee waiver for the ETF. This waiver will reduce the net expense ratio to 0.20% for the first year, or until the fund's assets reach $1 billion, whichever comes first. The ticker symbol for the ETF has also been revealed as AVAX.
Market Reaction to ETF News
Following the news of the S-1 amendment and the impending launch of the Avalanche ETF, the price of Avalanche (AVAX) has seen a significant surge. AVAX experienced a notable increase of 7% in its trading value.