Avalanche sees price surge amid new Bitwise ETF and network upgrade

Avalanche (AVAX) has seen a 55% weekly price surge, driven in part by interest in the Bitwise Avalanche ETF (ticker: BAVA) on NYSE Arca. The ETF is notable for its active staking model, with Bitwise aiming to stake approximately 70% of the fund's holdings to generate yield, targeting average rewards of about 5.4%. Early assets under management for the fund have been reported in the range of $18 million to $22 million.

Simultaneously, the Avalanche network is undergoing a technical v1.15.0 upgrade focused on improving validator performance and network stability. The exchange Bybit has confirmed it will support this upgrade by updating its nodes while maintaining active trading, deposits, and withdrawals for AVAX to ensure operational continuity.