BlackRock Already on Avalanche, Now Grayscale Wants Spot AVAX ETF Too
- Nasdaq filed Form 19b-4 to list a Grayscale Avalanche (AVAX) ETF.
- AVAX price rose from $16 to $22 and could reach $50 if momentum continues.
- Institutional interest is increasing, with BlackRock’s BUIDL fund on Avalanche exceeding $50M AUM.
Grayscale Investments filed with the U.S. Securities and Exchange Commission (SEC) to convert its existing Avalanche Trust into a spot Avalanche (AVAX) exchange-traded fund (ETF). Major exchange Nasdaq submitted the necessary Form 19b-4 filing on Grayscale’s behalf to list the proposed ETF, pending agency review and approval.
If approved, the spot AVAX ETF would offer institutional and retail investors regulated exposure to Avalanche’s ecosystem directly through traditional brokerage accounts, potentially boosting confidence and liquidity for the AVAX token.
What is the Grayscale Avalanche Trust Being Converted?
Grayscale launched its private placement Avalanche Trust back in August 2024. According to Grayscale’s website, the Trust currently holds about $1.76 million in assets. Its net asset value (NAV) per share stood at $10.86 recently, reportedly trading at a significant 7.4% premium to its underlying AVAX hold…
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BlackRock Already on Avalanche, Now Grayscale Wants Spot AVAX ETF Too
- Nasdaq filed Form 19b-4 to list a Grayscale Avalanche (AVAX) ETF.
- AVAX price rose from $16 to $22 and could reach $50 if momentum continues.
- Institutional interest is increasing, with BlackRock’s BUIDL fund on Avalanche exceeding $50M AUM.
Grayscale Investments filed with the U.S. Securities and Exchange Commission (SEC) to convert its existing Avalanche Trust into a spot Avalanche (AVAX) exchange-traded fund (ETF). Major exchange Nasdaq submitted the necessary Form 19b-4 filing on Grayscale’s behalf to list the proposed ETF, pending agency review and approval.
If approved, the spot AVAX ETF would offer institutional and retail investors regulated exposure to Avalanche’s ecosystem directly through traditional brokerage accounts, potentially boosting confidence and liquidity for the AVAX token.
What is the Grayscale Avalanche Trust Being Converted?
Grayscale launched its private placement Avalanche Trust back in August 2024. According to Grayscale’s website, the Trust currently holds about $1.76 million in assets. Its net asset value (NAV) per share stood at $10.86 recently, reportedly trading at a significant 7.4% premium to its underlying AVAX hold…
The post BlackRock Already on Avalanche, Now Grayscale Wants Spot AVAX ETF Too appeared first on Coin Edition.
Read More