Main notes
- Nasdak has introduced a new file to provide ETF Avalanche with SEC.
- Avalanche Etf, supported by Grayscale, is the second on the market of the main asset managers.
- Avax Price has maintained its clouds despite healthy news.
GrayScale Investments, LLC has taken a big step in bringing an ETF trading box to the market. The asset management giant joined VANECK to present AVAX ETF with the US Securities and Exchange Committee (SEC).
Nasdaq files for ETF Avalanche approval
According to Submission on March 27The company has advanced through its exchange partner, Nasdak. Companies submitted a 19B-4 file to SEC to include and trading ETF Rathcale Avalanche Trust proposed.
It should be noted that this deposit is an essential step in the process of organizational approval. It will be published in the federal registry and opens for general comments and review if accepted.
The deposit revealed that the proposed ETF has been developed to track the value of AVAX, the original encrypted currency of Avalanche Blockchain. Investors will be allowed to be exposed to Avax without maintaining the original directly.
According to the update, ETF will just like the Bitcoin and ETHEREUM products for Grayscale. The company plans to convert the current private Avalanche confidence into a generally circulated box.
Avalanche Trust was launched from Grayscale in August 2024 and currently runs about $ 1.7 million of assets. If approved, ETF will make AVAX more easy for institutional investors and retail trade, providing an organized investment option with lower technical barriers.
The growing institution of the institutions in Avax
It should be noted that payment for ETF Avalanche shows broader institutional interest in Blockchain alternative networks outside Bitcoin and Ethereum.
VANECK recently submitted a S-1 Senting Series to SEC to the United States for AVAX ETF. It also shows an increased appetite for collapse investment products. Grayscale was documented by the important service provider of the proposed deposit.
She noted that Coinbase Custody Trust will deal with asset custody, while BNY Mellon will act as an official and transfer agent.
Foreside Fund Services is expected to manage marketing efforts, and CoINDESK indicators will provide a standard index to track the AVAX price. Avalanche is designed for fast transactions and expansion. It works on three separate Blockchains.
The assets that transmit X-Chain, and the C Series support the ETHEREUM smart contracts, and runs the PC chain. The network has become common among developers and investors looking for alternatives to Ethereum, which often struggles with crowding.
AVAX price is low in the ETF file
Reports indicate that the price of AVAX has witnessed an unexpected correction since it has become a general packing news.
Coinmarketca data shows that the currency has decreased more than 8 % in the past 24 hours, and trades at $ 20.09 from the time of the press. Although other higher currencies such as XRP, Ethereum and Solana are witnessing great losses, AVAX has lost more than 10 % in 30 days.
Meanwhile, SEC's position on investment funds traded in digital assets has changed since President Donald Trump's opening. Under the leadership of the acting chief Mark Oida, the committee showed an increase in openness to digital asset funds, which led to a wave of new ETF applications.
If approved, the investment funds circulating in Avalanche Etf can put another sign of the increasing institutional adoption of the encryption assets.
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Slip: Coinspeaker is committed to providing unbiased and transparent reports. This article aims to provide accurate and timely information, but it should not be considered financial or investment advice. Since market conditions can change quickly, we encourage you to check your information and consult with a professional before making any decisions based on this content.
Benjamin Jodfrey is a blockchain lover and journalist who enjoys writing about the real life applications of Blockchain technology and innovations to pay public acceptance and complementarity all over the world for emerging technology. His desire to educate people about encrypted currencies inspire his contributions to the media and famous sites in Blockchain.