Grayscale Seeks SEC Nod For Spot AVAX ETF

Grayscale Investments has filed an S-1 with the U.S. Securities and Exchange Commission (SEC) to convert its Avalanche Trust into a spot Avalanche (AVAX) exchange-traded fund (ETF). 

Avalanche’s price edged 0.5% higher over the past hour, after a drop of 3.2% over the last 24 hours amid a broader selloff in the cryptocurrency market. On Stocktwits, retail sentiment around AVAX moved higher within ‘bullish’ territory amid ‘high’ levels of chatter.

The move would allow the fund to trade publicly under the name Grayscale AVAX Trust ETF, giving investors exposure to AVAX through traditional brokerage accounts. It comes months after the U.S. stock exchange Nasdaq submitted a filing to the SEC seeking permission to list the fund in March 2025.

“In connection with the effectiveness of this registration statement and the listing of the Shares on the Nasdaq stock market, the sponsor intends to rename the Trust as Grayscale AVAX Trust ETF as described in this registration statement,” Grayscale stated in the filing.

Grayscale already runs several high-profile products, including the Grayscale Bitcoin Trust ETF (GBTC), the Ethereum Trust ETF (ETHE), and the Bitcoin Miners ETF (MNRS). This year alone, the firm has applied for at least four new ETFs tied to assets such as Ripple’s native token XRP (XRP), Solana (SOL), Cardano (ADA), and even Quantum Computing technologies.

The company has taken a strategic approach, targeting assets that could benefit from a more favorable regulatory climate and rising investor appetite. ETFs have gained traction in the U.S. under President Donald Trump’s administration, which has adopted a more supportive stance toward the sector, spurring issuers to broaden their filings beyond Bitcoin (BTC) and Ethereum (ETH).

On Monday, Canary Capital also unveiled plans for a U.S.-focused crypto ETF. The Canary American-Made Crypto ETF will track the Made-in-America Blockchain Index while also seeking to capture rewards from validating transactions on its underlying networks.

Read also: Bitcoin Slides To July Levels, Ethereum Retreats From Weekend Highs – $840M Liquidated In Crypto Selloff

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