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Avalanche joins class of cryptocurrencies with at least one ETF
Investment management company VanEck on Monday introduced the first exchange-traded fund offering spot exposure to AVAX, the native token for the Avalanche blockchain and the latest cryptocurrency with an ETF. The new investment vehicle also aims to provide staking rewards for holders, according to a press release. AVAX, which has seen over $354 million in trading volume in the last 24 hours, is up slightly today. The token is trading at $11.70 as of 1:20 p.m. ET, a far cry from its all-time high in 2021 of $144.96. The nascent VanEck fund joins a group of its crypto-specific ETFs including the firm’s bitcoin ETF ... (full story)
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