VanEck Updates AVAX Spot ETF Filing to Add Staking Rewards, Target 70% Staked Holdings

VanEck revised its AVAX spot ETF (VAVX) filing on Dec. 21 to incorporate a staking rewards mechanism, planning to stake 70% of its AVAX holdings to generate returns for investors, BlockBeats reports. The ETF intends to use Coinbase Crypto Services as its initial staking provider and pay a 4% service fee, with staking rewards accruing to the fund and reflected in its net asset value. Anchorage Digital and Coinbase Custody are named as the ETF's custodians.