Breaking: VanEck Avalanche ETF to List Under Ticker “VAVX” on Nasdaq, AVAX Price Soars 7%
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Key Insights:
- VanEck amended its Avalanche ETF application with the U.S. Securities and Exchange Commission.
- The issuer revealed VAVX as the ticker symbol for listing on Nasdaq stock exchange.
- AVAX price jumped 7% over the last 24 hours and more than 18% in a week.
The leading crypto asset manager VanEck gears up to launch its Avalanche ETF as the issuer filed an S-1 amendment with the U.S. Securities and Exchange Commission (SEC). The issuer reveals its ticker symbol and other details in its latest regulatory filing.
As a result, AVAX price jumped more than 7% amid a broader crypto market recovery, extending the weekly run to more than 18%.
VanEck Avalanche ETF Discloses VAVX as Ticker Symbol
According to the latest US SEC filing, asset manager VanEck submitted a second S-1 amendment for its spot Avalanche ETF.
The issuer has revealed VAVX as the ticker symbol for listing and trading on the Nasdaq stock exchange, awaiting approval under the Generic Listing Guidelines.
In addition, the issuer changed its custodians, removing Gemini Trust as custodian. Anchorage Digital Bank will serve as the primary custodian for Avalanche assets held by the trust.
Coinbase Custody Trust Company is the second custodian for the trust. State Street Bank and Trust Co. will serve as cash custodian.
The investment objective is to reflect the performance AVAX price and rewards from staking a portion of the trust’s AVAX assets. Staking details are yet to be revealed by VanEck.
Investors Await Fee and Other Details for VanEck Avalanche ETF
VanEck is yet to update its fee and announce any fee waiver. The issuer is likely waiting for others to disclose their management fee.
Meanwhile, Bitwise has set a management fee of 0.34%. It also waived the entire fee for one month or until reaching $500 million in assets under management.
VanEck Avalanche ETF can get automatically effective with an 8-A filing and a CERT filing to confirm listing certification by Nasdaq.
In contrast, Bitwise has retained the delaying amendment and would likely seek approval from the U.S. Securities and Exchange Commission (SEC) for its Avalanche ETF.
The trust will use the MarketVector Avalanche Benchmark Rate index to track AVAX price.
It is important to note that VanEck Avalanche ETF may seek to use or hold liquid staking tokens. However, the issuer has made no such determination as of the date.
AVAX Price Soars Over 7%
AVAX price surged by more than 7% over the past 24 hours, extending the weekly rally to more than 18%. At the time of writing, the price was trading at $14.94.
The intraday low and high were $13.93 and $14.99, respectively. Furthermore, trading volume has increased by almost 15% in the last 24 hours.
CoinGlass data showed massive buying in the derivatives market in the last few hours to $616 million. Total AVAX futures open interest climbed 7% on Binance, 6% on OKX, and 5% on Bybit in the last 24 hours.
The post Breaking: VanEck Avalanche ETF to List Under Ticker “VAVX” on Nasdaq, AVAX Price Soars 7% appeared first on The Coin Republic.
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Breaking: VanEck Avalanche ETF to List Under Ticker “VAVX” on Nasdaq, AVAX Price Soars 7%
Share:
Key Insights:
- VanEck amended its Avalanche ETF application with the U.S. Securities and Exchange Commission.
- The issuer revealed VAVX as the ticker symbol for listing on Nasdaq stock exchange.
- AVAX price jumped 7% over the last 24 hours and more than 18% in a week.
The leading crypto asset manager VanEck gears up to launch its Avalanche ETF as the issuer filed an S-1 amendment with the U.S. Securities and Exchange Commission (SEC). The issuer reveals its ticker symbol and other details in its latest regulatory filing.
As a result, AVAX price jumped more than 7% amid a broader crypto market recovery, extending the weekly run to more than 18%.
VanEck Avalanche ETF Discloses VAVX as Ticker Symbol
According to the latest US SEC filing, asset manager VanEck submitted a second S-1 amendment for its spot Avalanche ETF.
The issuer has revealed VAVX as the ticker symbol for listing and trading on the Nasdaq stock exchange, awaiting approval under the Generic Listing Guidelines.
In addition, the issuer changed its custodians, removing Gemini Trust as custodian. Anchorage Digital Bank will serve as the primary custodian for Avalanche assets held by the trust.
Coinbase Custody Trust Company is the second custodian for the trust. State Street Bank and Trust Co. will serve as cash custodian.
The investment objective is to reflect the performance AVAX price and rewards from staking a portion of the trust’s AVAX assets. Staking details are yet to be revealed by VanEck.
Investors Await Fee and Other Details for VanEck Avalanche ETF
VanEck is yet to update its fee and announce any fee waiver. The issuer is likely waiting for others to disclose their management fee.
Meanwhile, Bitwise has set a management fee of 0.34%. It also waived the entire fee for one month or until reaching $500 million in assets under management.
VanEck Avalanche ETF can get automatically effective with an 8-A filing and a CERT filing to confirm listing certification by Nasdaq.
In contrast, Bitwise has retained the delaying amendment and would likely seek approval from the U.S. Securities and Exchange Commission (SEC) for its Avalanche ETF.
The trust will use the MarketVector Avalanche Benchmark Rate index to track AVAX price.
It is important to note that VanEck Avalanche ETF may seek to use or hold liquid staking tokens. However, the issuer has made no such determination as of the date.
AVAX Price Soars Over 7%
AVAX price surged by more than 7% over the past 24 hours, extending the weekly rally to more than 18%. At the time of writing, the price was trading at $14.94.
The intraday low and high were $13.93 and $14.99, respectively. Furthermore, trading volume has increased by almost 15% in the last 24 hours.
CoinGlass data showed massive buying in the derivatives market in the last few hours to $616 million. Total AVAX futures open interest climbed 7% on Binance, 6% on OKX, and 5% on Bybit in the last 24 hours.
The post Breaking: VanEck Avalanche ETF to List Under Ticker “VAVX” on Nasdaq, AVAX Price Soars 7% appeared first on The Coin Republic.
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Bad News for Vitalik Buterin from an Analyst! “He May Have Sold His Ethereum Near the Bottom!”