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Avalanche jumps 55% as Bitwise launches first staking-enabled AVAX ETF with 5.4% yield target

Market News
23 Sep 2026, 02:05 WIB
Crypto Briefing
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Bullish
Avalanche jumps 55% as Bitwise launches first staking-enabled AVAX ETF with 5.4% yield target

Avalanche (AVAX) surged 55% in a week following the launch of Bitwise's Avalanche ETF (BAVA), the first regulated fund offering direct exposure to AVAX tokens with an active staking model. The ETF stakes about 70% of its holdings to generate an estimated 5.4% yield, attracting early inflows of around $18-22 million in assets under management. This new ETF structure could set a precedent for future staking-enabled crypto ETFs, increasing demand for AVAX by locking tokens in staking contracts and reducing circulating supply. Avalanche's strong network performance and partnerships with Visa and FIFA support its growing appeal as an enterprise-grade blockchain.

As of Sep 23, 2026 06:21 WIB, AVAX trades at Rp202.562 on Pluang, showing a moderate 1.18% increase in the last day. The circulating supply stands at 442.9 million out of a total 715.7 million AVAX tokens, with a market cap of Rp88.37 trillion. Buy orders currently make up 55% of Pluang's activity, reflecting steady interest in Avalanche amid the new ETF developments.

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