The first AVAX Spot ETF in the United States debuts on Nasdaq today

BlockBeats News, January 26, According to official sources, the first AVAX spot ETF in the United States, VAVX, launched by ETF issuer VanEck, will debut on Nasdaq today (Monday trading day).

It is reported that the ETF will stake some of the held AVAX, and the generated rewards (net of fees) will be distributed back to the holders. The issuer VanEck had previously stated that they would waive fees for the first $500 million in assets inflow.

At the time of writing, the native token of the Avalanche network, AVAX, was priced at $11.69, with a 69% decline in the past year. The market capitalization is currently reported at $5.044 billion, with an FDV of $5.415 billion.