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BAVA

GradeBNew York Stock Exchange Arca

Bitwise Avalanche ETF

Crypto · Bitwise · Inception 2026-04-14 · SEC filings

$28.00−1.92 (−6.42%)

As of Sep 23, 2026, 2:14 PM EDT

History starts Apr 15, 2026.History starts Apr 15, 2026.History starts Apr 15, 2026.
Intraday session: down, 13 prints from 29.92 to 28.00. Range 28.00 to 29.86. Use the arrow keys to read each point.$28.50$29.00$29.50$30.0010 AM12 PM2 PM4 PM
Expense ratio
0.34%
Fund size
$29M
1Y return
—
Yield · Last 12 months
—
Holdings
1
Volume · 30D
0M sh
NAV per share
$22.51
52W range
low $16.01high $30.69

The ETF.net BAVA Grade

B

63/ 100

Rank 9 of 26 in Crypto Spot⁠

Confidence Medium

Six-pillar profile for BAVA. Scores out of 100: Cost 68, Risk 81, Mission not scored, Tradability 42, Holdings not scored, Durability 46. Strongest: Risk (81). Weakest: Tradability (42). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 68
    Category rank7/26 · top 27%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 81
    Category rank3/26 · top 12%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank19/26 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 46
    Category rank16/26 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on BAVA

ETF.net Research

BOne of the few US funds holding Avalanche outright, and it doesn't just park the coins: a secondary goal is staking them to gather more AVAX. It also undercuts the other US Avalanche fund on fee.

Stated mandate

The Trust seeks exposure to the value of Avalanche it holds, net of operating expenses, and has a secondary objective of obtaining additional Avalanche through staking.

Why people hold it

  1. 01Direct AVAX exposure in a normal brokerage account: the trust seeks the value of the Avalanche it holds, net of expenses. No futures roll, no basket of other tokens.
  2. 02The staking twist: a stated secondary objective is obtaining additional Avalanche by staking the coins, a mechanism plain coin-holding trusts skip.
  3. 030.34% a year, a shade under the spot-crypto median and below GAVA, the other US Avalanche fund, at 0.35%.
  4. 04Passively run, with no manager timing the token, and it sits in the upper half of its spot-crypto peer group overall.

Worth knowing

  1. 01Small and thinly traded next to the big crypto funds, so spreads at the screen can be wider than the headline fee suggests.
  2. 02It's a commodity-style trust, not a registered fund, so the usual fund-law protections don't apply. Single-token crypto also swings hard both ways.
  3. 03Any staking rewards go toward adding Avalanche to the trust, not cash in your pocket, and the 2026 launch means a thin track record.

BAVA Holdings

As of Sep 20, 2026, 9:29 AM
Asset class
Other
Holdings
1
Top-10 weight
100%
Largest holding
AVALANCHE100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—AVALANCHE100.00%2,662,689$22M1

Showing 1–1 of 1 holdings

BAVA Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BAVA$17,757
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. BAVA $17,757. SPY $10,415. Use the arrow keys to read each point.$9,098$13,786$18,475Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BAVA. Periods over one year show the average yearly return.
PeriodBAVA
Year to dateFund launched this year—
1 month+46.3%
3 months+77.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BAVA
YearReturn barBAVA
2026 YTD+17.7%

History from Apr 15, 2026

BAVA in the news

ETF.net Research hasn’t filed on BAVA yet — coverage lands here as it’s written.

BAVA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

BAVA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.35
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BAVA Cost

Expense ratio0.34%
  • The middle half of Crypto Spot funds
  • Median 0.35%

6 of the 26 Crypto Spot funds charge less.

BAVA costs $34.00 a year on $10,000. The median Crypto Spot fund costs $35.00.