Grayscale Investments, a major player in cryptocurrency investments, has submitted an S-1 form to the US Securities and Exchange Commission (SEC) to establish a spot Avalanche (AVAX) exchange-traded fund (ETF).
On Friday, Grayscale filed with the SEC to convert its existing Avalanche Trust into a publicly traded ETF, according to a registration statement issued on Monday.
The proposed fund will mirror the name of the Avalanche (AVAX) cryptocurrency, allowing investors to gain direct exposure through conventional brokerage accounts.
Coinbase Custody is set to serve as the custodian for AVAX, with BNY Mellon expected to function as the fund’s administrator and transfer agent.
Nasdaq filed with SEC to list AVAX in March
Grayscale’s S-1 submission for the spot Avalanche ETF follows Nasdaq’s filing with the SEC in March 2025, requesting approval to list the fund.
“With the effectiveness of this registration statement and the listing of Shares on the Nasdaq stock market, the sponsor will rebrand the Trust to Grayscale AVAX Trust ETF as stated in this registration statement,” noted Grayscale in the filing.
This spot AVAX filing follows the introduction of the Avalanche Trust, an AVAX investment trust, by Grayscale in August 2024.
This new filing aligns with Grayscale’s ongoing efforts to expand its spot crypto ETF offerings, including recent applications for ETFs related to XRP (XRP) and Dogecoin (DOGE).
This is a developing story, and further details will be provided as they emerge.
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