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- Nasdaq submitted to Sec to list and trade shares in Grayscale’s Spot Avalanche ETF.
- ETF would provide exposure to AVAX and is currently without a designated ticker symbol.
Nasdaq has submitted Form 19b-4 With the US Securities and Exchange Commission (SEC), the List and Trade with Grayscales Spot Avalanche ETF, Grayscale Avalanche Trust (Avax) is seeking.
The new archiving suggests that gray -scale investment intends to convert its existing product of trust –Launched In August 2024 – to an listed ETF, which gives investors regulated exposure to AVAX, the original token for the Avalanche network, which is currently ranked as the 17th largest cryptocurrency by market value.
In a press release that announced Avalanche Trust, the Grayscale described the project as a “three-chain Smart contract platform” focused on scalability, security and decentralization. The company also emphasized Avalanche’s role in real asset coinage.
Before Grayscale Avalanche Trust already, grayscale already assumed exposure to Avax through its Digital Large Cap Fund (GDLC), which includes several assets such as Bitcoin, Ethereum, Solana, XRP and Avax. In October 2024, the company Archived for Sec To convert this fund to an ETF.
Vaneck too applied for its future spot Avalanche ETF earlier this month and signals growing interest in offer AVAX-based investment products.
As the Fund’s sponsor, grayscale aims to give investors a regulated and accessible way to get exposure to AVAX and expand their suite with crypto investment options.
In addition to AVAX, grayscale also conducts legislative approval for ETFs tied to other digital assets, including XRP, Solana (solar), Litecoin (LTC) and Polkadot (DOT).
Despite the ETF archiving, AVAX has not shown any immediate price reaction, with a current market capitalization of $ 8.4 billion, according to Coytecko -Data.
