Major cryptocurrency funding firm Grayscale Investments filed an S-1 with the US Securities and Exchange Commission (SEC) to launch a spot Avalanche (AVAX) exchange-traded fund (ETF).
Grayscale filed with the SEC on Friday to transform its current Avalanche Trust right into a publicly traded ETF, in accordance to 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 is designed to offer buyers with direct publicity to the asset by conventional brokerage accounts.
Coinbase Custody will act because the custodian for AVAX, whereas BNY Mellon is anticipated 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 alternate Nasdaq submitted a submitting to the SEC searching 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 Trust as Grayscale AVAX Trust ETF as described on this registration assertion,” Grayscale wrote within the submitting.
The spot AVAX submitting comes a 12 months after Grayscale launched the Avalanche Trust, an AVAX funding belief, in August 2024.
The new submitting comes according to Grayscale’s energetic growth spot crypto ETF choices, together with filings for ETFs monitoring XRP (XRP) and Dogecoin (DOGE) earlier this 12 months.
This is a creating story, and additional info might be added because it turns into obtainable.
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