Bitwise Files Spot Avalanche ETF Proposal with SEC

Bitwise has submitted an S-1 filing to the SEC for a spot Avalanche exchange-traded fund, joining the growing lineup of altcoin investment vehicles. The proposed fund would provide investors direct exposure to AVAX, currently the 19th-largest cryptocurrency by market capitalization.

Coinbase will serve as the custodian for digital assets in the proposed Bitwise Avalanche ETF. The filing positions the fund as a Delaware statutory trust, allowing investors to track real-time spot prices of the underlying tokens.

The timing coincides with expected debuts of XRP and DOGE ETFs this week from REX Shares and Osprey Funds. These altcoin funds will offer exposure through subsidiaries registered in the Cayman Islands, differing from direct cryptocurrency holding structures.