Bitwise Avalanche ETF

Bitwise Avalanche ETF is a U.S.-listed exchange-traded trust that issues shares backed by Avalanche, a decentralized digital asset. The trust is designed to give investors exposure to Avalanche through a traditional brokerage account, with shares listed on NYSE Arca under the ticker BAVA.

— Bitwise Avalanche ETF
%
Exchange-traded crypto exposure100% Listed trust shares that provide investment exposure to Avalanche's market value.

The trust is bought by investors who want Avalanche exposure without directly holding the token in a self-custody...

  • Retail brokerage investorsprimary

    Buy listed shares to gain Avalanche exposure through a familiar brokerage account.

  • Institutional allocatorsprimary

    Use the trust as a listed vehicle for portfolio exposure to Avalanche.

  • Tactical crypto investorssecondary

    Use the product for short- or medium-term allocation to Avalanche price movements.

The trust is organized in the United States and its shares are listed on NYSE Arca. Its economic exposure is global...

  • •United States domicile and exchange listing
  • •NYSE Arca trading access for U.S. investors
  • •Avalanche pricing reflects global digital asset markets
  • •Custody and sponsor functions are U.S.-based

The trust's core strategy is to track Avalanche's value as closely as possible through a regulated exchange-traded...

01
Maintain tight Avalanche price exposureshort-term

The product's value proposition depends on tracking the underlying token closely.

02
Support additional token accumulation through stakingmedium-term

Staking can increase Avalanche holdings and enhance the product's economics.

03
Preserve a simple exchange-traded access modellong-term

A plain-vanilla structure can appeal to investors who want crypto exposure without direct custody.

The trust is exposed to Avalanche price volatility, which directly affects the value of its holdings and shares...

high

Avalanche market volatility

The trust holds Avalanche directly, so share value moves with the token price.

Scope
NAV and share price
Materiality
high
high

Valuation and benchmark risk

NAV depends on the CME CF Avalanche–Dollar Reference Rate and principal-market pricing.

Scope
Daily fair value measurement
Materiality
high
high

Custody and digital asset security

Avalanche is held with a third-party custodian in segregated accounts.

Scope
Asset safekeeping
Materiality
high
medium

Staking operational risk

The trust seeks additional Avalanche through staking, which depends on network and validator processes.

Scope
Additional token generation
Materiality
medium
Fair value measurement of Avalanche
Primary driver of NAV and period-to-period volatility
Investment company accounting
Affects balance sheet and income statement presentation
Sponsor fee accrual
Impacts expense recognition and net asset value

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: 11/08/2026