cryptobriefing.com
Nasdaq has filed Form 19b-4 with the US Securities and Exchange Commission (SEC), seeking approval to list and trade shares of Grayscale’s spot Avalanche ETF, the Grayscale Avalanche Trust ($AVAX).
The new filing suggests Grayscale Investments intends to convert its existing trust product—launched in August 2023—into a publicly traded ETF, providing investors with regulated exposure to $AVAX, the native token of the Avalanche network, which currently ranks as the 17th largest cryptocurrency by market capitalization.
The filing follows VanEck’s S-1 submission earlier this month, signaling growing interest in offering $AVAX-based investment products.
As the fund’s sponsor, Grayscale aims to provide investors with a regulated and accessible way to gain exposure to $AVAX, expanding its suite of crypto investment options.
Beyond $AVAX, Grayscale is also pursuing regulatory approval for ETFs tied to other digital assets, including XRP, Solana (SOL), Litecoin (LTC), and Polkadot (DOT).
Despite the ETF filing, $AVAX has shown no immediate price reaction, with a current market capitalization of $8.4 billion, according to CoinGecko data.