Grayscale Investments recently updated its S-1 filing for the Avalanche spot ETF with the U.S. Securities and Exchange Commission. The highlight of this update is the introduction of a staking yield mechanism. This makes Grayscale the third major player, after a leading institution and another firm, to officially incorporate staking yield arrangements into an AVAX ETF product.

Interestingly, this reflects a new trend — institutional-level crypto asset products are no longer satisfied with simple spot exposure. The addition of staking yields allows holders to not only benefit from potential price appreciation but also earn additional protocol rewards. This design is highly attractive to traditional financial institutions.

Grayscale plans to list this ETF on Nasdaq under the trading code GAVX. From product design and filing progress to listing pace, the institutionalization of the entire market is quite evident. As an important part of the public chain ecosystem, the increased attention to AVAX also, to some extent, reflects the market’s continued optimism for high-performance public chains.