Nasdaq has filed Type 19b-4 with the US Securities and Change Fee (SEC), in search of approval to listing and commerce shares of Grayscale’s spot Avalanche ETF, the Grayscale Avalanche Belief (AVAX).
The brand new submitting suggests Grayscale Investments intends to transform its present belief product—launched in August 2023—right into a publicly traded ETF, offering traders with regulated publicity to AVAX, the native token of the Avalanche community, which at present ranks because the seventeenth largest cryptocurrency by market capitalization.
The submitting follows VanEck’s S-1 submission earlier this month, signaling rising curiosity in providing AVAX-based funding merchandise.
Because the fund’s sponsor, Grayscale goals to supply traders with a regulated and accessible option to achieve publicity to AVAX, increasing its suite of crypto funding choices.
Past AVAX, Grayscale can be pursuing regulatory approval for ETFs tied to different digital property, together with XRP, Solana (SOL), Litecoin (LTC), and Polkadot (DOT).
Regardless of the ETF submitting, AVAX has proven no quick value response, with a present market capitalization of $8.4 billion, in line with CoinGecko information.
