Key Takeaways
- Nasdaq filed with the SEC to list and trade shares of Grayscale’s spot Avalanche ETF.
- The ETF would provide exposure to AVAX and is currently without a designated ticker symbol.
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Nasdaq has filed Form 19b-4 with the US Securities and Exchange Commission (SEC), seeking approval to list and trade shares of Grayscale’s spot Avalanche ETF.
The proposed fund would track the spot price of AVAX, the native token of the Avalanche network, which currently ranks as the 17th largest cryptocurrency by market capitalization.
The filing follows VanEck’s S-1 submission earlier this month, signaling growing interest in offering AVAX-based investment products.
No official ticker symbol has been assigned to Grayscale’s proposed ETF. As the fund’s sponsor, Grayscale aims to provide investors with a regulated and accessible way to gain exposure to AVAX, expanding its suite of crypto investment options.
This move builds on Grayscale’s existing Avalanche Trust, which launched last August. The trust functions similarly to the firm’s other crypto funds, catering to both individual and institutional investors.
Beyond AVAX, Grayscale is also pursuing regulatory approval for ETFs tied to other digital assets, including XRP, Solana (SOL), Litecoin (LTC), and Polkadot (DOT).
Despite the ETF filing, AVAX has shown no immediate price reaction, with a current market capitalization of $8.4 billion, according to CoinGecko data.
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