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Bitwise's BHYP recorded $4.31 million in debut trading volume on May 15, the largest opening day among the 2026 spot altcoin ETF launches in the US, exceeding Chainlink fund CLNK's prior high of $3.23 million by 33% and Avalanche fund BAVA's $2.61 million deb…
Bitwise's BHYP recorded $4.31 million in debut trading volume on May 15, the largest opening day among the 2026 spot altcoin ETF launches in the US, exceeding Chainlink fund CLNK's prior high of $3.2… [+7576 chars]
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The company aims to provide institutional investors with regulated, structured exposure to the Avalanche blockchain ecosystem through active capital allocation and infrastructure investment.
Institutional backers include Dragonfly, Pantera, ParaFi Capital, VanEck, Galaxy Digital, and Kraken.
Avalanche is designed as an enterprise-focused blockchain, with a focus on tokenizing real-world assets and moving traditional financial infrastructure onto blockchain rails.
AVAX is currently trading at a five-year low, representing a 95% decline from its all-time high in November 2021.