According to the newly released information, Bitwise has launched the spot Avalanche ETF under the ticker BAVA. The fund directly holds AVAX and stakes the assets for an average yield of about 5.4%. On April 16, the ETF recorded $400,000 in trading volume during its first 90 minutes of trading. Bloomberg ETF analyst James Seyffart described the debut as "quite good." This official launch updates the earlier status from a planned listing to active trading.