The post VanEck Seeks SEC Approval for First-Ever AVAX ETF appeared first on Coinpedia Fintech News
As per a recent statement, VanEck is seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch the “VanEck Avalanche ETF.” This filing follows VanEck’s recent registration of the Avalanche ETF in Delaware.
If approved by the SEC, it would be the first-ever ETF tied to AVAX, marking a significant step for both the fund and the broader crypto space. “The Trust’s investment objective is to reflect the performance of the price of ‘AVAX,’ the native token of the Avalanche network, less the expenses of the Trust’s operations,” the filing noted.
The VanEck Avalanche ETF will directly hold AVAX and determine its share value based on the MarketVector Avalanche Benchmark Rate. This rate combines pricing data from the five largest trading platforms, as identified in CCData’s exchange benchmark report.
Analysts Place High Odds Of Approval
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