PANews reported on April 15th that Bitwise Asset Management announced the launch of the Bitwise Avalanche ETF (ticker symbol: BAVA) on the NYSE. The ETF tracks Avalanche (AVAX) spot and allows on-chain staking through its Bitwise Onchain Solutions subsidiary, aiming for an annualized average staking yield of approximately 5.4%. The fund plans to allocate approximately 70% of its holdings to staking and 30% as liquidity reserves, distributing net staking yields regularly to holders. The BAVA sponsorship fee is 0.34%, with 0% for the first $500 million in assets. The announcement cautions that BAVA is a single-AVAX exposure product, facing significant price volatility, liquidity, regulatory, and staking-related risks, potentially resulting in substantial losses or even total loss.