Bitwise Launches Spot Avalanche ETP (BAVA); Includes In-House Staking To Maximize Staking Rewards and Oversight

Fund provides exposure to one of the fastest-growing blockchain networks for real-world use cases and enterprise infrastructure. 

SAN FRANCISCO, April 15, 2026 /PRNewswire/ -- Bitwise Asset Management, the global crypto asset manager with $11 billion in client assets (as of April 1, 2025), today announced the launch of the Bitwise Avalanche ETF (NYSE: BAVA), designed to provide investors with exposure to Avalanche, a leading blockchain platform powering real-world use cases and government initiatives. Bitwise intends to stake the Fund's Avalanche (AVAX) holdings through its in-house staking division, Bitwise Onchain Solutions, aiming to carefully preserve liquidity while maximizing participation in Avalanche's average staking rewards of 5.4%.¹ 

"Avalanche is emerging as one of the leading platforms for businesses, governments, and real-world use cases," said Matt Hougan, CIO of Bitwise. "Avalanche's unique structure, which lets users leverage the security and scale of a large network while maintaining flexibility and control, makes it a great landing pad for enterprise-grade onchain applications. With BAVA, investors can gain exposure to an asset that we believe is powering the next wave of blockchain adoption across global finance and enterprise."

Avalanche is a high-performance blockchain that enables enterprises and developers to build custom, interoperable blockchains. These networks allow institutions to set specific rules for governance and access while leveraging Avalanche's near-instant settlement and low fees.² With a market cap of $4.1 billion, Avalanche is among the most established digital assets in the world.³ Its technology currently powers a wide range of projects, including:

• FIFA's proprietary blockchain, which lets soccer fans buy and sell digital collectibles, including options to buy tickets for 2026 World Cup matches
• Wyoming's Frontier (FRNT) Stable Token, the first state-issued stablecoin in the U.S.
• New Jersey's pilot to move business certifications and licenses onchain through Balcony
• Toyota's Avalanche-based initiatives, which leverage enterprise blockchains for mobility and supply chains
• Institutional tokenization initiatives from KKR, Apollo, SkyBridge, and BlackRock
• Japan's first regulated stablecoin (JPYC) and Korea's first KRW-denominated stablecoin (KRW1)

The Bitwise Avalanche ETF (BAVA) is not suitable for all investors. An investment in BAVA is subject to a high degree of risk, has the potential for significant volatility, and could result in significant or complete loss of investment. BAVA is not an investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act") and therefore is not subject to the same protections as ETFs and mutual funds registered under the 1940 Act. An investment in BAVA is not the same as a direct investment in the Avalanche token (AVAX). Past performance is not indicative of future results.

"Avalanche powers many of the most exciting real-world use cases of blockchain," said Anthony Scaramucci, Founder of SkyBridge. "When we tokenized our funds, we chose Avalanche because it enables us to build our own private, secure lane on the internet.⁴ It was like moving from old-school paper mail to an instant, secure messaging app—it made things faster, cheaper, and way more transparent for our investors."

The Bitwise Avalanche ETF will trade on NYSE starting April 15, 2026, with the ticker BAVA. The Sponsor Fee will be 0.34%, with the fee set at 0% for the first month on the Fund's first $500M in assets.⁵

Notes
(1) Network staking reward rate as of April 13, 2026. Staking refers to the process of helping to secure the network and validate transactions; in return, participants earn rewards. The tax treatment of rewards earned by the Trust may have potentially adverse consequences for shareholders. Please consult with your tax advisor. The Fund participates in proof-of-stake validation to earn rewards in the form of additional AVAX tokens. The Trust will stake all of the Avalanche that is not held aside in a Liquidity Reserve. As of April 15, 2026, the Liquidity Reserve is composed of 30% of the Trust's Avalanche, meaning that the Trust seeks to stake approximately 70% of the Trust's Avalanche. However, the amount of the Liquidity Reserve is evaluated by the Sponsor on a monthly basis and may be changed subject to the Trust's policies and procedures. The precise amount of the Trust's Avalanche that is staked on a daily basis is available on the Trust's website, bavaetf.com. The Fund intends to distribute its net investment income, including the value of Staking Rewards (net of expenses), to shareholders on a periodic basis. Rewards are not guaranteed, are subject to change, and should not be taken as an indication of the Fund's performance.
(2) Source: Dune Analytics and Snowtrace.io as of March 31, 2026.
(3) Source: CoinMarketCap as of April 13, 2026.
(4) Tokenization is the process of representing ownership rights or value of a real-world asset (like real estate, bonds, or company shares) as a digital token on a blockchain.
(5) Additional expenses such as brokerage and commission fees may apply.

About Bitwise
Bitwise Asset Management is a global crypto asset manager with $11 billion in client assets and a suite of over 70 investment products spanning ETFs, separately managed accounts, private funds, hedge fund strategies, and staking. The firm has an eight-year track record and today serves more than 5,000 private wealth teams, RIAs, family offices, and institutional investors, as well as 21 banks and broker-dealers. The Bitwise team of over 200 technology and investment professionals is backed by leading institutional investors and has offices in San Francisco, New York, and London.

About Avalanche
Avalanche is an ultra-fast, low-latency blockchain platform designed for builders who need high performance at scale. The network's architecture allows for the creation of sovereign, efficient and fully interoperable public and private Layer 1 (L1) blockchains which leverage the Avalanche Consensus Mechanism to achieve high throughput and near-instant transaction finality. The ease and speed of launching an L1, and the breadth of architectural customization choices, make Avalanche the perfect environment for a composable multi-chain future.

Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building decentralized applications (dApps). With its combination of speed, flexibility, and scalability, Avalanche is the platform of choice for innovators pushing the boundaries of blockchain technology.

Risks and Important Information

This material must be accompanied by a prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus visit bavaetf.com/welcome.

The amount of AVAX represented by a Share will continue to be reduced during the life of the Fund due to the transfer of the Fund's AVAX to pay for the Sponsor's management fee, and to pay for litigation expenses or other extraordinary expenses. This dynamic will occur irrespective of whether the trading price of the Shares rises or falls in response to changes in the price of AVAX.

There is no guarantee or assurance that the Fund's methodology will result in the Fund achieving positive investment returns or outperforming other investment products.

The trading prices of many digital assets, including Avalanche, have experienced extreme volatility in recent periods and may continue to do so. Extreme volatility in the future, including further declines in the trading price of Avalanche, could have a material adverse effect on the value of the Shares and the Shares could lose all or substantially all of their value.

Investors may choose to use the Fund as a means of investing indirectly in AVAX. Because the value of the Shares is correlated with the value of the AVAX held by the Fund, it is important to understand the investment attributes of, and the market for, AVAX.

AVAX Risk. There are significant risks and hazards inherent in the AVAX market that may cause the price of AVAX to fluctuate widely. The Fund's AVAX may be subject to loss, damage, theft or restriction on access. Investors considering a purchase of Shares should carefully consider how much of their total assets should be exposed to the AVAX market, and should fully understand, be willing to assume, and have the financial resources necessary to withstand the risks involved in the Fund's investment strategy.

Liquidity Risk. The market for AVAX is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Fund's NAV and its market price. The lack of active trading markets for the Shares may result in losses on investors' investments at the time of disposition of Shares.

Regulatory Risk. Future and current regulations by a U.S. or foreign government or quasi-governmental agency could have an adverse effect on an investment in the Fund.

Blockchain Technology Risk. Certain of the Fund's investments may be subject to the risks associated with investing in blockchain technology. The risks associated with blockchain technology may not fully emerge until the technology is widely used. Blockchain systems could be vulnerable to fraud, particularly if a significant minority of participants colluded to defraud the rest. Because blockchain technology systems may operate across many national boundaries and regulatory jurisdictions, it is possible that blockchain technology may be subject to widespread and inconsistent regulation.

Staking Risk. The Trust intends to implement a staking program under which a significant portion of the Trust's AVAX will be staked. While staking AVAX offers the potential for the Trust to earn rewards in the form of additional AVAX tokens, it also exposes the Trust to several risks, such as loss of rewards, slashing penalties, and operational uncertainties. Staking activities could impair the ability to satisfy redemption orders on a timely basis. 

Nondiversification Risk. The Fund is nondiversified and will hold a single issue. As a result, a decline in the market value of a particular issue held by the Fund may affect the Fund's value more than if it invested in a larger number of issuers.

Recency Risk. The Fund is recently organized, giving prospective investors a limited track record on which to base their investment decision. If the Fund is not profitable, the Fund may terminate and liquidate at a time that is disadvantageous to Shareholders.

Bitwise Investment Advisers, LLC serves as the sponsor of the Fund. Foreside Fund Services, LLC serves as the Marketing Agent for BAVA, and is not affiliated with Bitwise Investment Advisers, LLC, Bitwise, or any of its affiliates.

Media contact:
Tova Kaufmann
[email protected]

SOURCE Bitwise Asset Management