VAVX — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• The 24.46% decrease in the NAV per Share from $18.56 at March 31, 2026 to $14.02 at June 30, 2026 is primarily related to the 25.14% decrease in the price of AVAX during the three months ended June 30, 2026, and offset by income from staking activities

• The Trust’s NAV increased from $2,517,563 at December 31, 2025 to $11,563,028 at June 30, 2026, a 359.29% increase. The increase in the Trust’s NAV resulted primarily from an increase in the number of Shares outstanding also increased from 100,000 Shares at December 31, 2025 to 825,000 Shares at Jun…

• The 44.32% decrease in the NAV per Share from $25.18 at December 31, 2025 to $14.02 at June 30, 2026 is primarily related to the 45.17% decrease in the price of AVAX during the six months ended June 30, 2026, and offset by income from staking activities.

• The NAV per Share of $30.22 on January 14, 2026, was the highest during the six months, compared with a low during the six months of $12.75 on June 25, 2026.

• Net decrease in net assets resulting from operations for the six months ended June 30, 2026, was $(4,813,889) resulting from the net realized loss and net change in unrealized appreciation (depreciation) on investment in AVAX of $(4,983,591), offset by net investment income of $169,702 from staking …

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• The 26.29% decrease in the NAV per Share from $25.18 at December 31, 2025 to $18.56 at March 31, 2026 is directly related to the 26.76% decrease in the price of AVAX during this period.

Text added vs the prior filing · source: 10-Q · 2026-08-13

• The Trading Prices Of Many Digital Assets, Including AVAX, Have Experienced Extreme Volatility in Recent Periods and May Continue To Do So. Extreme Volatility in The Future, Including Further Declines in the Trading Prices Of AVAX, Could Have a Material Adverse Effect on the Value of the Shares and …

• The trading prices of many digital assets, including AVAX, have experienced extreme volatility in recent periods and may continue to do so. For instance, there were steep increases in the value of certain digital assets, including AVAX, over the course of 2021, and multiple market observers asserted…

• Extreme volatility may persist and the value of the Shares may significantly decline in the future without recovery. The digital asset markets may still be experiencing a bubble or may experience a bubble again in the future. For example, in the first half of 2022, each of Celsius Network, Voyager D…

• the digital asset markets have experienced extreme price volatility and other entities in the digital asset industry have been, and may continue to be, negatively affected, further undermining confidence in the digital asset markets. The 2022 events have also negatively impacted the liquidity of the…

• Many expect the Trump administration to facilitate a supportive regulatory approach toward the digital asset industry. Through his executive orders, President Trump has indicated that the administration will work toward providing greater regulatory clarity for blockchain technology and digital asset…

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• expressed significant safety and soundness concerns with business models that are concentrated in crypto-asset related activities or have concentrated exposures to the crypto-asset sector.

• U.S. federal and state regulators, as well as the White House, have issued reports and releases concerning crypto assets, including AVAX and crypto asset markets. Further, in 2023 the House of Representatives formed two new subcommittees: the Digital Assets, Financial Technology and Inclusion Subcom…

• There remains substantial uncertainty regarding the regulation of digital assets, including AVAX, and their markets, notwithstanding certain recent federal interpretive actions intended to provide additional clarity. On March 17, 2026, the SEC issued the Interpretive Release regarding the applicatio…

• In August 2021, the chair of the SEC stated that he believed investors using digital asset trading platforms are not adequately protected, and that activities on the platforms can implicate the securities laws, commodities laws and banking laws, raising a number of issues related to protecting inves…

• It is not possible to predict whether Congress will grant additional authorities to the SEC or other regulators, what the nature of such additional authorities might be, how they might impact the ability of digital asset markets to function or how any new regulations that may flow from such authorit…