ChainCatcher reports that, according to CoinDesk, VanEck has updated its AVAX spot ETF (VAVX) application documents, introducing a staking rewards mechanism, proposing to stake 70% of AVAX holdings to generate returns for investors.
The AVAX Spot ETF (VAVX) will use Coinbase Crypto Services as its initial staking provider, paying a 4% service fee. Staking rewards will accumulate in the fund and be reflected in its net asset value. The custodians are Anchorage Digital and Coinbase Custody.
