Bitwise has filed an updated application with the SEC for its proposed spot Avalanche ETF, BAVA. The revised filing introduces a lower expense ratio of 0.34%, marking one of the most competitive rates among similar products in the market. This compares to VanEck’s 0.40% and Grayscale’s 0.50%. Additionally, the S-1 reveals plans for BAVA to stake up to 70% of its AVAX holdings on Avalanche’s proof-of-stake network to generate additional tokens. However, Bitwise will deduct 12% of these rewards as fees, with the remaining portion distributed to shareholders. Competitors have not utilized staking practices yet, restricting their fee structure solely to sponsorship charges.