Grayscale Files for Spot Avalanche ETF on Nasdaq
If approved, the ETF will allow investors to purchase AVAX through standard brokerage accounts.
Author: Francisco Rodriguez | Edited by: Sheldon Reback Updated: Mar 28, 2025 7:35 PM UTC Published: Mar 28, 2025 1:07 PM UTC
Basic information:
- Nasdaq Files 19b-4 to List Grayscale Avalanche Spot ETF
- The ETF will directly hold AVAX tokens.
- Grayscale's filing comes after VanEck's Avalanche ETF S-1 filing.
Nasdaq has filed a 19b-4 with the U.S. Securities and Exchange Commission (SEC) to approve the listing of Grayscale's Avalanche spot ETF.
Grayscale already operates the Avalanche Trust, which charges a 2.5% management fee. The filing could lead to a more accessible and flexible investment vehicle with exposure to the AVAX token and reflects the current trend in the industry to develop regulated altcoin trading vehicles. However, the SEC has yet to approve any spot altcoin ETFs other than those offering exposure to ether (ETH).
If approved, Grayscale will offer traditional investors another way to access crypto assets through standard brokerage accounts. According to the filing, Coinbase Custody will act as the custodian for the ETF.
The ETF will directly hold AVAX, tracking the market value of the Avalanche network’s native token. At the time of writing, the cryptocurrency is trading at $20.5, having lost 6.6% of its value in the last 24 hours amid a broader market downturn that has seen the broader CoinDesk 20 (CD20) index fall more than 4%.
Other companies are also showing interest in Avalanche. Earlier this month, VanEck filed an S-1 for the Avalanche ETF.
Last month, Grayscale also filed for a Cardano ETF, which would be the company's first standalone investment vehicle in the ADA space.
