Bitwise Submits S-1 for Spot AVAX ETF, Taps Coinbase for Custody

Crypto investment firm Bitwise has filed to launch a spot ETF for Avalanche’s AVAX token. The filing, submitted to the SEC, reveals the fund will directly hold AVAX with Coinbase safeguarding the assets.

Bitwise argues the ETF offers a simpler, safer way for investors to gain exposure to Avalanche without handling the cryptocurrency themselves.

The move expands Bitwise’s growing lineup of crypto-based exchange-traded products.