Bitwise has updated its Avalanche ETF filing, now named BAVA, to include staking, potentially making it the first U.S. ETF to generate yield. The fund will charge a low sponsor fee of 0.34% and plans to stake up to 70% of its AVAX holdings. A full fee waiver is offered for the first month on the initial $500 million.

Avalanche Treasury Co. has entered a merger agreement with Mountain Lake Acquisition Corp. valued at over $675 million, aiming to create a public vehicle for AVAX exposure. The deal includes $460 million in treasury assets and a $200 million discounted AVAX purchase allocation, with plans to grow its digital asset treasury to exceed $1 billion.