Nasdaq seeks to list Grayscale's Avalanche ETF (AVAX)

• Nasdaq seeks to list Avalanche ETF.
• Growing institutional interest.
• Avalanche in the financial market.

Nasdaq filed a Form 27b-19 with the U.S. Securities and Exchange Commission (SEC) on March 4 to list and trade shares of Grayscale’s proposed Avalanche exchange-traded fund (ETF). In a significant step, the move comes at a time of growing institutional investor interest in digital assets.

O document The filing highlighted that the Trust's assets will be comprised exclusively of the AVAX token and the fund's investment objective is for the value of its shares to reflect the value of the token held by the Trust. cryptocurrency exchange Coinbase will be the custodian of the Trust.

The potential approval of the Avalanche ETF by the SEC represents an important milestone for the cryptocurrency market, opening new doors for institutional adoption and expanding access to this market to a wider audience. It is worth noting that the Nasdaq filing comes a week after asset manager VanEck also filed a request for approval to launch an Avalanche ETF.

At the time of publication, Avalanche was trading at $19,87, down 10% in the last 24 hours. The asset has appreciated 6.2% in the last seven days.

VanEck Files Avalanche $AVAX ETF for SEC Review

VanEck, a renowned investment manager, just to take a major step towards innovation in the cryptocurrency market in the United States by registering an ETF based on Avalanche (AVAX) in Delaware. Although the formal SEC filing has not been completed, indications suggest that the company is considering the possibility of launching an exchange-traded fund that would invest directly in the AVAX token.

It is worth remembering that the SEC is already evaluating other cryptocurrency ETFs, including those based on XRP, SOL and ADA, highlighting a growing trend in the acceptance of financial products linked to digital assets.