VanEck Updates AVAX Spot ETF Application, Introduces Staking Rewards Mechanism

BlockBeats News, December 21st, VanEck has updated its AVAX Spot ETF (VAVX) application file, introducing a staking reward mechanism, planning to stake 70% of AVAX holdings to generate yield for investors. The AVAX Spot ETF (VAVX) will use Coinbase Crypto Services as its initial staking provider, paying a 4% service fee. The staking rewards will accumulate in the fund and be reflected in its net asset value. The custodians are Anchorage Digital and Coinbase Custody.