VanEck Updates AVAX Spot ETF Application, Introduces Staking Rewards Mechanism
BlockBeats News, December 21, VanEck updated its AVAX Spot ETF (VAVX) application file, introducing a staking reward mechanism that plans to stake 70% of AVAX holdings to generate yield for investors.
The AVAX Spot ETF (VAVX) will use an exchange Crypto Services as its initial staking provider, paying a 4% service fee. The staking rewards will accrue to the fund and be reflected in its net asset value. The custodians are Anchorage Digital and an exchange Custody.
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