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Avalanche ETF Push Gains Momentum With Grayscale Filing
Grayscale Investments, LLC has taken a major step in bringing a spot Avalanche exchange-traded fund (ETF) to the market. The asset management giant has joined VanEck in filing for the AVAX ETF with the U.S. Securities and Exchange Commission (SEC).
Nasdaq Files for Avalanche ETF Approval
According to the filing on March 27, the firm applied through its exchange partner, Nasdaq. The firms submitted a 19b-4 filing to the SEC to list and trade the proposed Grayscale Avalanche Trust ETF shares.
It is worth mentioning that this filing is an essential step in the regulatory approval process. It will be published in the Federal Register and open to public comments and review if accepted.
The filing revealed that the proposed ETF is developed to track the value of AVAX, the native cryptocurrency of the Avalanche blockchain. It will allow investors to gain exposure to AVAX without holding the asset directly.
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