Nasdaq has officially filed with the US Securities and Exchange Commission to list and trade shares of Grayscale’s spot Avalanche ETF. The filing, submitted through Form 19b-4, seeks approval to convert Grayscale’s existing Avalanche Trust into a publicly traded exchange-traded fund.
Grayscale launched the Avalanche Trust in August 2023 to give institutional investors a way to invest in AVAX, the native cryptocurrency of the Avalanche blockchain. Now, the firm is looking to turn it into an ETF, which would make AVAX investments more accessible and regulated within traditional financial markets.
VanEck has submitted a proposal for an investment product centered on AVAX, showing how big investors are growing more interested in Avalanche. Grayscale is also preparing ETF applications for other well-known cryptocurrencies like XRP, Solana, Litecoin, and Polkadot.
Despite this news, AVAX’s price hasn’t moved much, and its total market value remains stable at $8.4 billion, as reported by CoinGecko. There’s no set date for when the SEC might decide, but if they approve it, this ETF could bring more large-scale investment into Avalanche—similar to the boost Bitcoin got after its spot ETFs were greenlit earlier this year.
As regulated crypto investment options gain momentum, an SEC approval would be a major milestone in bringing Avalanche closer to traditional financial systems.
Also Read: BlackRock and Fidelity Will Join the XRP ETF Race: Nate Geraci
