BAVA vs HYPG

BAVABBitwise Avalanche ETF

HYPGAGrayscale Hyperliquid Staking ETF

In short

BAVA One 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.

HYPG —No data

Stated mandate

BAVA 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.

HYPG —No data

Why people hold it

• BAVA Direct 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.
• The staking twist: a stated secondary objective is obtaining additional Avalanche by staking the coins, a mechanism plain coin-holding trusts skip.
• 0.34% a year, a shade under the spot-crypto median and below GAVA, the other US Avalanche fund, at 0.35%.
• Passively run, with no manager timing the token, and it sits in the upper half of its spot-crypto peer group overall.

HYPG —No data

Worth knowing

• BAVA Small and thinly traded next to the big crypto funds, so spreads at the screen can be wider than the headline fee suggests.
• It'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.
• Any staking rewards go toward adding Avalanche to the trust, not cash in your pocket, and the 2026 launch means a thin track record.

HYPG —No data

Full BAVA profile⁠

Full HYPG profile⁠