Investors may consider VAVX because it powers Avalanche, a high-performance blockchain designed for scalability, speed, and customization. Avalanche supports financial and institutional use cases through low transaction costs, fast finality, and the ability to create custom blockchains (subnets). VAVX is also used to secure the network through staking, allowing holders to earn rewards while supporting network operations. As adoption grows across decentralized finance (DeFi), enterprise applications, and tokenized assets, VAVX plays a central role in Avalanche's long-term ecosystem growth.

Notice

Fund effective as of January 23, 2025. The Fund is not yet available for trading and there is no assurance that the Fund will commence trading.

During the period commencing on January 26, 2026 and ending on February 28, 2026, the Sponsor will waive the entire Sponsor Fee for the first $500 million of the Trust’s assets. If the Trust’s assets exceed $500 million prior to February 28, 2026, the Sponsor Fee charged on assets over $500 million will be 0.20%. All investors will incur the same Sponsor Fee which is the weighted average of those fee rates. After February 28, 2026, the Sponsor Fee will be 0.20%. Brokerage fees and commissions may apply. Please check with your broker.

VAVX

VanEck Avalanche ETF

About VAVX

The Trust's investment objective is to reflect the performance of the price of AVAX, and rewards from staking a portion of the Trust's AVAX, to the extent the Sponsor in its sole discretion determines that the Trust may do so without undue legal or regulatory risk, such as, without limitation, by jeopardizing the Trust's ability to qualify as a grantor trust for U.S. federal income tax purposes, less the expenses of the Trust's operations.

An investment in the VanEck Avalanche ETF (“VAVX,” or the “Trust”) is subject to significant risk and may not be suitable for all investors. The value of Avalanche (“AVAX”) is highly volatile, and you can lose your entire principal investment. VAVX is not an investment company registered under the Investment Company Act of 1940 (the “1940 Act”) and therefore is not subject to the same protections as mutual funds or ETFs registered under the 1940 Act.

Gross Staking Yield represents yield earned by the Fund from staking AVAX and is not a performance measure or yield earned by investors. Staking yields are not guaranteed, may change frequently, and may be zero. After applicable fees and expenses, staking-related activity may not result in a positive return.

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Prospectus

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Why VAVX

Avalanche supports scalable, customizable blockchains for financial and institutional applications.

Cost-effective exposure through an exchange-traded product that securely holds AVAX and earns staking rewards.

Avalanche is built to support long-term scalability and adoption.

Staking Yields as of 01/23/2026

Percentage Staked

100.00

Staking Yield on Staked AVAX

5.57%

Gross staking yield

5.57%

Net Staking Yield

5.34%

“Staking” refers to delegating a portion of the Fund’s AVAX to third-party validators on the Avalanche network for potential additional AVAX. Staking yield is not a separate shareholder payment; any rewards or losses are reflected in the Fund’s NAV and performance. Gross yield is shown before taxes and fees, while net yield reflects them, and both are based on net assets per share. Staking yields are not guaranteed, may change frequently, and may be zero. After applicable fees and expenses, staking-related activity may not result in a positive return. Staking entails liquidity, operational, validator, counterparty, and slashing risks, among others. See disclosures below and the prospectus for more information.

Performance

Prices as of 01/23/2026

	NAV/ Market Price	Volume 30-Day Avg./ Last Trading Day	Daily Change NAV/ Last Price	YTD Change NAV/ Last Price	Premium/ Discount	30-Day Median Bid Ask Spread	NAV Chart
VAVX	$24.93 $24.93	-- 0	$-0.05 / -0.21% -- / -0.21%	-1.43% -1.43%	$0.00 0.00%	--

Fees

Holdings

All Holdings (%) as of 01/22/2026

Total Holdings: 1

Holding Name	% of Net Assets	Quantity	Market Value (US$)
Avalanche	100.00	206,020	2,498,306

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Not a recommendation to buy or to sell any security or digital asset. Holdings are subject to change. Current and future holdings are subject to risk. The quantity of Avalanche (AVAX) shown above reflects the total assets held in custody. This amount does not reflect the accrual of management fees or other expenses. For an accounting-based view of fund assets net of accruals, please refer to the ETF Statistics table.

Please see the "Net Asset Value Determinations" of the Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

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