Data as of .
BAVA vs VAVX: which tracked its coin?
Over the window both share, BAVA finished 0.94 of a percentage point ahead of Avalanche and VAVX 1.2 ahead.
ETFIQ Coin Capture Score: VAVX scores higher
How much of what holding the coin gave did a holder of the fund keep?
A percentile among the 28 spot crypto ETPs listed less than a year. It is a position in a set, not a rating, and neither end of it is a recommendation. All crypto ETFs ranked by it · How it is computed
The same coin, two trusts
BAVA and VAVX hold the same asset. Both are 1933 Act trusts holding Avalanche through a custodian, so neither has a portfolio to compare: the whole of each fund is one line. Over the days each has traded, BAVA finished 0.72 of a percentage point ahead of Avalanche and VAVX 2.9% ahead once both returns are compounded, but the two windows are not the same days, so neither figure is set against the other here. That gap is the fee, the custody, the creation and redemption friction and the market’s pricing of the shares, compounded into one figure. VAVX has 79 more days of record than BAVA, and a longer record is a longer window over which a cost can show itself.
Performance, window by window
| Window | Total return | The coin over the same days | Difference, percentage points | |||
|---|---|---|---|---|---|---|
| BAVA | VAVX | BAVA | VAVX | BAVA | VAVX | |
| 1 month | +18.2% | +18.1% | +18.1% | +18.1% | +0.1 pts | −0.1 pts |
| 3 months | +14.5% | +14.8% | +13.5% | +13.5% | +0.9 pts | +1.2 pts |
| 6 months | not published | −22.2% | not published | −23.3% | not published | +1.1 pts |
| Since each listed | −20.3% | −34.5% | −21.0% | −36.3% | +0.7 pts | +2.9% of its growth |
| BAVA Bitwise Avalanche ETF Holds Avalanche through a custodian, listed Apr 15, 2026 | VAVX VanEck Avalanche ETF Holds Avalanche through a custodian, listed Jan 26, 2026 | |
|---|---|---|
| Sponsor | Bitwise | VanEck |
| Holds | Avalanche | Avalanche |
| Net assets | $17m, balance sheet of Jun 30, 2026 | $12m, balance sheet of Jun 30, 2026 |
| Sponsor’s fee | 0.34% | 0.20% |
| Fee waiver | the whole fee, until May 14, 2026 | the whole fee, until February 28, 2026, first $500 million of assets |
| Staking | the filings say it does | the filings say it does |
| Listed | Apr 15, 2026 | Jan 26, 2026 |
| Days since listing | 149 days | 228 days |
| Days it has traded | 104 | 159 |
| Days it closed unchanged | 0 | 0 |
| Quoted | on an exchange, every trading day | on an exchange, every trading day |
| Fund returned, 1 year or since launch | −20.3% | −34.5% |
| The coin over the same days | −21.0% | −36.3% |
| Difference, percentage points | +0.7 pts | +2.9% of its growth |
| Fund returned since it listed | −20.3% | −34.5% |
| Difference since it listed | +0.7 pts | +2.9% of its growth |
| Price | $20.2813 | $15.5742 |
BAVA in plain words
BAVA holds Avalanche through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, Avalanche moved −21.0% and BAVA returned −20.3%. That leaves it 0.72 of a percentage point ahead. That difference is the fee, the custody cost, the friction of creating and redeeming shares in blocks, and whatever the market paid for the shares rather than for the coin, all of it together. It is the only figure on this page the sponsor does not publish itself. BAVA charges 0.34% a year and still finished 0.7% ahead of Avalanche, which a fee cannot do on its own. Avalanche is a proof of stake chain, so a fund holding it can stake. BAVA’s own filings say it does (10-Q, Aug 12, 2026). It charges 0.34% and finished only −0.7% behind Avalanche, so staking covered about 1.1% of that fee over these days. A spot trust is not a registered investment company. It files a 10-K rather than an N-PORT, and its holding is one line: the Avalanche it custodies.
VAVX in plain words
VAVX holds Avalanche through a custodian and trades on an exchange, so a holder gets the coin’s return inside a brokerage account rather than a wallet. Over the time since it listed to Sep 11, 2026, Avalanche moved −36.3% and VAVX returned −34.5%. That leaves it 2.9% ahead once both returns are compounded. Over a window this long the two returns cannot simply be subtracted. Doing it would read +1.8 pts, which is arithmetically correct and describes nothing a holder can act on: what the figure above states is the gap between the two growth factors, so a fund that kept 103% of what holding the coin gave says exactly that. VAVX charges 0.20% a year and still finished 2.9% ahead of Avalanche, which a fee cannot do on its own. VAVX’s own filings say it does (10-Q, Aug 13, 2026). What the prices show is that it finished 2.9% ahead of Avalanche’s own price over the same days, against +1.6% for the other 2 funds holding Avalanche. After a fee, an in-kind ETP ahead of the asset it holds got there by staking.
Questions people ask
- Which tracked Avalanche more closely, BAVA or VAVX?
- Over the days each has traded, BAVA finished 0.72 of a percentage point ahead of Avalanche and VAVX 2.9% ahead once both returns are compounded. Those are not set against each other here, because the two windows are not the same days, so neither is nearer its coin than the other on this page. Each difference carries the fee, the custody cost, the friction of creating and redeeming shares in blocks and whatever the market paid for the shares rather than for the coin.
- Do BAVA or VAVX pay a staking yield?
- Avalanche is a proof of stake chain, so staking is possible. Whether either trust stakes, and what the sponsor keeps of it, is a term in its own filings and is read from those rather than assumed.
- What is the difference between BAVA and VAVX?
- Both hold Avalanche through a custodian and both trade on an exchange, so what separates them is what each costs a holder over time. BAVA is sponsored by Bitwise and listed Apr 15, 2026; VAVX by VanEck, listed Jan 26, 2026.
- Which is cheaper, BAVA or VAVX?
- BAVA charges 0.34% a year and VAVX charges 0.20%, so VAVX is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BAVA against VAVX, data as of Sep 11, 2026. https://etfiq.com/compare/crypto/BAVA-VAVX Free to use with attribution; the underlying files are at Open data.