Nasdaq has formally filed with the US Securities and Change Fee to listing and commerce shares of Grayscale’s spot Avalanche ETF. The submitting, submitted by Kind 19b-4, seeks approval to transform Grayscale’s current Avalanche Belief right into a publicly traded exchange-traded fund.
Grayscale launched the Avalanche Belief in August 2023 to present institutional traders a solution to spend money on AVAX, the native cryptocurrency of the Avalanche blockchain. Now, the agency is trying to flip it into an ETF, which might make AVAX investments extra accessible and controlled inside conventional monetary markets.
VanEck has submitted a proposal for an funding product centered on AVAX, exhibiting how huge traders are rising extra excited by Avalanche. Grayscale can also be making ready ETF functions for different well-known cryptocurrencies like XRP, Solana, Litecoin, and Polkadot.
Regardless of this information, AVAX’s value hasn’t moved a lot, and its complete market worth stays secure at $8.4 billion, as reported by CoinGecko. There’s no set date for when the SEC may determine, but when they approve it, this ETF may convey extra large-scale funding into Avalanche—much like the enhance Bitcoin bought after its spot ETFs had been greenlit earlier this yr.
As regulated crypto funding choices acquire momentum, an SEC approval could be a significant milestone in bringing Avalanche nearer to conventional monetary methods.
Additionally Learn: BlackRock and Fidelity Will Join the XRP ETF Race: Nate Geraci
