VanEck has updated its filing for an Avalanche exchange-traded fund, VAVX, to include staking rewards and generate income for investors. The fund may stake up to 70% of its AVAX holdings to generate yield, with Coinbase Crypto Services as the initial staking provider. Rewards, minus a 4% service fee, will accrue to the fund.

AVAX will be held with regulated custodians like Anchorage Digital and Coinbase Custody, which store tokens offline in cold wallets. The fund will not utilize leverage or derivatives, tracking AVAX’s price through the MarketVector Avalanche Benchmark Rate. If approved, the fund would trade under the ticker VAVX on Nasdaq.

Bitwise also updated its spot Avalanche ETF filing to enable yield generation. This comes after the U.S. Securities and Exchange Commission cleared the way for crypto ETPs to get into yield without triggering tax problems.

Read more at Yahoo Finance: VanEck’s new Avalanche ETF filing to include staking rewards for AVAX investors