Bitwise’s AVAX ETF Filing Tests SEC’s Appetite for Broader Crypto Funds

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Bitwise’s new S-1 filing for a spot Avalanche ETF is the latest test of the SEC’s willingness to approve crypto ETFs beyond Bitcoin and Ethereum.

The application highlights the fund’s structure: it will be physically-backed, use a CME pricing benchmark, and rely on Coinbase for custody—a model mirroring recently approved ETFs.

The filing states the trust is designed for investors seeking efficient exposure to AVAX without direct ownership hurdles. Its approval would signal a significant broadening of the crypto ETF landscape and a major win for the Avalanche ecosystem.