Bitwise Avalanche ETF reported results for the period from April 14, 2026 (commencement of operations) through June 30, 2026. Net assets reached $16,673,620, backed by 2,538,567.9222 AVAX held in the Trust, with a Principal Market NAV of $17.74 per share on 940,000 shares outstanding.
The Trust generated $147,423 in Staking Rewards and net investment income of $128,525, but recorded net realized and unrealized losses on Avalanche of $7,297,543 as AVAX declined from $9.32 at launch to $6.57, producing a -29.04% total return at NAV. The Sponsor waived fees for an initial one‑month period, resulting in annualized net expenses of 0.45%, including staking fees. The Trust operates as an emerging growth company and pursues a strategy of holding and staking Avalanche, while managing liquidity via a reserve and laddered staking periods.
Bitwise Avalanche ETF filed its quarterly report showing it was still in its pre-launch phase as of March 31, 2026, with net assets of $200 across 8 Shares at a net asset value of $25.00 per Share.
The trust is structured to provide exposure to Avalanche, with a primary objective of tracking the value of Avalanche held and a secondary objective of earning additional Avalanche through staking. It is treated as a grantor trust for U.S. tax purposes and as an emerging growth company, allowing reduced reporting requirements.
Subsequent events describe the effective registration on April 10, 2026, listing on NYSE Arca on April 15, and initial Seed Baskets of 100,000 Shares sold at $25.00 per Share. The trust now charges a 0.34% annual Sponsor Fee on Avalanche holdings, temporarily waived on the first $500 million of assets for one month after listing.