Bitwise Launches Avalanche ETF Offering 5.4% Staking Yield
- Innovative ETF Structure: Bitwise's Avalanche ETF allocates at least 80% of its assets to AVAX and utilizes in-house Bitwise Onchain Solutions for staking, targeting an average yield of about 5.4%, which not only provides price exposure but also generates additional returns for investors.
- Liquidity Management: While the ETF generates returns through staking, Bitwise commits to carefully managing liquidity during these operations to ensure that investors maintain access to their funds amid market fluctuations, with a management fee set at 0.34%.
- Growing Institutional Applications: The Avalanche network is witnessing increasing institutional usage, supporting various enterprise applications, including FIFA's digital collectibles platform and Wyoming's Frontier stable token project, highlighting its potential in finance and enterprise sectors.
- Positive Market Response: Bitwise CIO Matt Hougan noted that the ETF provides investors access to a blockchain utilized in real-world financial systems, which is expected to attract more institutional interest in Avalanche's applications and developments.
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Technical Analysis for AVAX
Technical Sentiment Analysis for Avalanche (AVAX). As of , Avalanche (AVAX) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 2 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AVAX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AVAX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Avalanche (AVAX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 7.804 | 8.362 | 8.894 | 9.452 | 9.984 | 10.542 | 11.074 |
| Fibonacci | 8.362 | 8.778 | 9.036 | 9.452 | 9.868 | 10.126 | 10.542 |
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