VanEck updates AVAX spot ETF application document, proposes to introduce staking for 70% of holdings to generate returns

Techub News reports, according to CoinDesk, VanEck has updated its application for the AVAX spot ETF VAVX, planning to stake approximately 70% of its AVAX holdings to obtain on-chain rewards, which will be included in the fund's assets.

The document shows that the ETF intends to use Coinbase Crypto Services for initial staking services, with a service fee of 4%. Related staking rewards will accumulate to the fund and be reflected in its net asset value; custodians include Anchorage Digital and Coinbase Custody.