Main cryptocurrency funding firm Grayscale Investments filed an S-1 with the US Securities and Change Fee (SEC) to launch a spot Avalanche (AVAX) exchange-traded fund (ETF).
Grayscale filed with the SEC on Friday to transform its present Avalanche Belief right into a publicly traded ETF, in accordance with a registration assertion launched on Monday.
The proposed fund makes use of the identical wording because the underlying ticker of the Avalanche (AVAX) cryptocurrency. It’s designed to supply traders with direct publicity to the asset by conventional brokerage accounts.
Coinbase Custody will act because the custodian for AVAX, whereas BNY Mellon is predicted to function the fund’s administrator and switch agent.
Nasdaq filed with SEC to listing AVAX in March
Grayscale’s S-1 for a spot Avalanche ETF got here months after the US inventory trade Nasdaq submitted a submitting to the SEC looking for permission to listing the fund in March 2025.
“In reference to the effectiveness of this registration assertion and the itemizing of the Shares on the Nasdaq inventory market, the sponsor intends to rename the Belief as Grayscale AVAX Belief ETF as described on this registration assertion,” Grayscale wrote within the submitting.
The spot AVAX submitting comes a yr after Grayscale launched the Avalanche Belief, an AVAX funding belief, in August 2024.
The brand new submitting comes in keeping with Grayscale’s energetic growth spot crypto ETF choices, together with filings for ETFs monitoring XRP (XRP) and Dogecoin (DOGE) earlier this yr.
This can be a creating story, and additional data will likely be added because it turns into accessible.
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