Bitwise filed an updated S-1 with the SEC naming AVAX as the ticker for its proposed Avalanche ETF and disclosing a management fee along with a planned fee waiver. The filing, dated Nov. 27, 2025, signals progress toward launch but remains subject to regulatory approval.
Sierra Protocol has launched the first Liquid Yield Token on Avalanche, featuring dynamic rebalancing and stablecoin-backed reserves that accrue yield immediately. The product targets liquid, yield-bearing exposure for the AVAX DeFi ecosystem.
Avalanche's market cap surged 67% in Q3 2025 to $16.8 billion, driven by stronger DeFi activity and subnet expansion, Messari reports. Institutional adoption of subnets helped lift user counts and revenue, making this one of Avalanche's best quarters.