VanEck updates AVAX spot ETF application documents, introducing a staking reward mechanism

According to CoinDesk, VanEck has updated its AVAX spot ETF (VAVX) application documents, introducing a staking reward mechanism, planning to stake 70% of its AVAX holdings to generate returns for investors.

The AVAX spot ETF (VAVX) will use Coinbase Crypto Services as its initial staking provider and will pay a 4% service fee. Staking rewards will be accumulated into the fund and reflected in its net asset value. The custodians are Anchorage Digital and Coinbase Custody.