Grayscale Avalanche Staking ETF
Grayscale Avalanche Staking ETF is a U.S.-based exchange-traded trust that holds AVAX, the native token of the Avalanche network. The trust is designed to provide investors with exposure to AVAX price movements and, through staking arrangements, to earn staking rewards in the form of additional AVAX.
Business
Share of revenueShares that track the value of AVAX held by the trust.
AVAX rewards earned from staking the trust's holdings.
Fees and expenses associated with operating the trust.
Customers
The trust's investors are market participants seeking regulated exposure to Avalanche without directly holding or managing digital assets. Shares are created and redeemed by authorized participants and liquidity providers, while secondary-market investors buy the ETF shares for portfolio exposure, trading convenience, and custody simplification.
Create and redeem shares in exchange for AVAX or cash-like settlement mechanics.
Support primary-market transactions and help maintain orderly share creation/redemption.
Buy ETF shares to gain AVAX exposure through a listed security.
Use the trust as a portfolio vehicle for digital asset exposure and operational convenience.
Strategy
The trust's core strategy is to provide listed exposure to AVAX while using a benchmark index to determine NAV and share pricing. It also seeks to enhance holdings through staking, while relying on custodians and third-party staking providers to execute staking activities and manage operational mechanics.
Shareholder returns and trading integrity depend on reliable pricing and benchmark selection.
Staking can increase AVAX holdings and improve the trust's economic exposure.
The trust depends on market access, liquidity, and third-party infrastructure to function efficiently.
Geography
The trust is organized in the United States and operates as a U.S. investment vehicle. Its economic exposure is global because AVAX trades on international digital asset markets, and the trust references multiple trading platforms to determine pricing and fair value.
Risks
The trust is exposed to AVAX price volatility, which directly affects NAV and shareholder returns. It also faces operational and liquidity risks tied to staking, third-party service providers, digital asset market access, and the possibility that staked AVAX may be temporarily inaccessible during un-staking or withdrawal periods.
The trust holds AVAX directly, so changes in token price flow through to NAV and reported results.
Exposure: NAV and shareholder returns
Staked AVAX may be inaccessible for a period and the trust depends on third-party providers to execute staking.
Exposure: Asset accessibility and operational continuity
NAV depends on benchmark pricing from multiple trading platforms, which can vary by venue and liquidity.
Exposure: Fair value measurement
Digital asset markets and staking arrangements are subject to evolving legal and compliance requirements.
Exposure: Market access and service-provider relationships
Accounting
Judgemental itemsNAV is derived from benchmark pricing and principal market selection, making valuation judgments central to reported results.
Impact: Changes in benchmark inputs can materially affect NAV and unrealized gains or losses.
Rewards are received in AVAX and may be distributed or retained, affecting holdings and income presentation.
Impact: Can increase assets and influence realized/unrealized results.
Share issuance and redemption activity is recorded on trade date with settlement later, affecting receivables and payables.
Impact: Creates timing differences in reported assets and liabilities.
Sales of AVAX to pay expenses or fees are recognized using specific identification.
Impact: Affects realized gain/loss recognition and comparability across periods.
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Last updated: 16/06/2026