The NASDAQ Exchange has applied to the U.S. Securities and Exchange Commission to list the shares of funds traded on avalanche exchanges issued by Crypto Asset Manager Grayscale.
Grayscale's Avax ETF 19B-4 form continues Register as a Delaware Trust Entity More than two weeks ago.
If approved, the Avax ETF will use Coinbase Custody as its administrator, 19B-4 shows.
However, the publisher must continue to submit an S-1 registration statement describing the product.
avax, utility token Layer-1 Blockchain Avalancherecently traded at $20.17, a decline of 8% over the last 24 hours, Coingecko data show.
According to data providers, Altcoin is the 17th largest cryptocurrency by market capitalization.
This latest indication that Grayscale can apply for a Spot Avax ETF immediately can come within three weeks Investment company Vaneck Also Registered with the Avalanche (Avax) ETF in Delaware. Some asset managers already offer avalanche ETPs, allowing direct access to avax through regulated exchanges.
The application forms part of a broader trend among fund issuers who joke about Altcoin ETFs as federal regulators take a softer stance on crypto-based investment products under newly elected President Donal Trump.
Application Smart also attracted $44 billion worth of assets in 2024 after the success of Spot Bitcoin and Ethereum ETFs last year.
Grayscale already offers Spot Bitcoin and Ethereum ETFs to its clients. It is also applied to launch funds based on untraded cryptocurrencies such as XRP, Solana, Dogecoin, etc. A conversion from existing trusts, Grayscale Bitcoin Trust (GBTC) manages the third-largest assets of the Bitcoin fund behind BlackRock and Fidelity's similar products.
Grayscale Ethereum Trust manages approximately $2.5 billion in assets.
Decryption I contacted Grayscale to comment on my latest submission.
Edited by James Rubin
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