Grayscale Files S-1 For Spot Avalanche ETF With Ticker AVAX

Main cryptocurrency funding firm Grayscale Investments filed an S-1 with the US Securities and Change Fee (SEC) to launch a spot Avalanche (AVAX) exchange-traded fund (ETF).

Grayscale filed with the SEC on Friday to transform its current Avalanche Belief right into a publicly traded ETF, according to a registration assertion launched on Monday.

The proposed fund makes use of the identical wording because the underlying ticker of the Avalanche (AVAX) cryptocurrency. It’s designed to offer traders with direct publicity to the asset via conventional brokerage accounts.

Coinbase Custody will act because the custodian for AVAX, whereas BNY Mellon is anticipated to function the fund’s administrator and switch agent.

Nasdaq filed with SEC to checklist AVAX in March

Grayscale’s S-1 for a spot Avalanche ETF got here months after the US inventory trade Nasdaq submitted a filing to the SEC looking for permission to checklist the fund in March 2025.

“In reference to the effectiveness of this registration assertion and the itemizing of the Shares on the Nasdaq inventory market, the sponsor intends to rename the Belief as Grayscale AVAX Belief ETF as described on this registration assertion,” Grayscale wrote within the submitting.

The spot AVAX submitting comes a yr after Grayscale introduced the Avalanche Trust, an AVAX funding belief, in August 2024.

The brand new submitting comes consistent with Grayscale’s energetic growth spot crypto ETF offerings, together with filings for ETFs monitoring XRP (XRP) and Dogecoin (DOGE) earlier this yr.

Who else has filed for Avalanche ETF?

Grayscale shouldn’t be the primary issuer to file a kind S-1 registration assertion for an ETF monitoring the value of Avalanche.

VanEck, one of many early movers making an attempt to launch a Bitcoin (BTC) ETF within the US, filed for VanEck Avalanche ETF in March 2025, looking for to supply traders direct publicity to the crypto asset.

Associated: Bitcoin ETFs hit 5-day losing streak, but Pomp says BTC is oversold

Launched in September 2020, Avalanche is an open-source blockchain platform that helps decentralized purposes and smart contracts. The protocol is developed by Ava Labs, a startup based by Cornell College’s Emin Gün Sirer.

After almost 5 years since its launch in September 2020, Avalanche has established itself as a significant blockchain platform, rating because the twenty second largest cryptocurrency by market capitalization with a $10.2 billion market cap, according to CoinGecko.

AVAX is down 35% year-to-date

In contrast to main crypto property similar to Bitcoin and Ether (ETH) — which surged by round 70% up to now yr — the value of AVAX has seen a major decline since late 2024.

After surging to $54.2 in December 2024, Avalanche has misplaced 55% of worth as of Monday, buying and selling at $24.3 on the time of writing, according to CoinGecko. The crypto asset is down 35% year-to-date.

Avalanche has been gaining momentum lately, with Anthony Scaramucci’s SkyBridge Capital saying a $300 million tokenization project on Avalanche final week.

The community can be among the many blockchains for the debut of Wyoming’s Frontier Stable Token (FRNT) stablecoin, alongside main platforms like Ethereum and Solana.