Nasdaq seeks SEC approval to list Grayscale’s spot Avalanche ETF

Key Takeaways

Nasdaq filed with the SEC to record and commerce shares of Grayscale’s spot Avalanche ETF.
The ETF would supply publicity to AVAX and is presently with no designated ticker image.

Nasdaq has filed Type 19b-4 with the US Securities and Trade Fee (SEC), searching for approval to record and commerce shares of Grayscale’s spot Avalanche ETF, the Grayscale Avalanche Belief (AVAX).

The brand new submitting suggests Grayscale Investments intends to transform its present belief product—launched in August 2024—right into a publicly traded ETF, offering traders with regulated publicity to AVAX, the native token of the Avalanche community, which presently ranks because the seventeenth largest cryptocurrency by market capitalization.

In a press launch asserting the Avalanche Belief, Grayscale described the mission as a “three-chain good contract platform” targeted on scalability, safety, and decentralization. The agency additionally highlighted Avalanche’s position in real-world asset tokenization.

Previous to the Grayscale Avalanche Belief, Grayscale already offered publicity to AVAX by its Digital Massive Cap Fund (GDLC), which incorporates a number of belongings reminiscent of Bitcoin, Ethereum, Solana, XRP, and AVAX. In October 2024, the agency filed with the SEC to transform this fund into an ETF.

VanEck additionally utilized for its potential spot Avalanche ETF earlier this month, signaling rising curiosity in providing AVAX-based funding merchandise.

Because the fund’s sponsor, Grayscale goals to supply traders with a regulated and accessible method to achieve publicity to AVAX, increasing its suite of crypto funding choices.

Past AVAX, Grayscale can be pursuing regulatory approval for ETFs tied to different digital belongings, together with XRP, Solana (SOL), Litecoin (LTC), and Polkadot (DOT).

Regardless of the ETF submitting, AVAX has proven no quick value response, with a present market capitalization of $8.4 billion, based on CoinGecko knowledge.