TL;DR
- Nasdaq has officially submitted an application to the SEC to list VanEck’s proposed Avalanche ETF, offering regulated exposure to the AVAX token without direct purchase.
- VanEck continues to expand its crypto ETF portfolio, adding Avalanche to its prior filings for Bitcoin, Ethereum, and Solana.
- The move to include Avalanche in these investment products shows institutional interest in altcoins, despite AVAX’s recent price decline.
Nasdaq has submitted a formal application to the U.S. Securities and Exchange Commission (SEC) to list the “VanEck Avalanche Trust”,an ETF that would offer investors indirect exposure to the AVAX token without the need to self-custody digital assets. This new financial instrument would track the token’s market price, with a third-party custodian holding the underlying AVAX, and would be traded under Nasdaq’s Rule 5711(d), which governs commodity-based trusts.
This filing comes as Avalanche, an innovative blockchain platform built on a unique three-chain architecture (X-Chain, C-Chain, and P-Chain), gains traction for its scalability, speed, and flexibility. It has become a go-to network for DeFi projects, NFTs, and Web3 applications. For VanEck, already active in crypto with ETFs tied to Bitcoin, Ethereum, and more recently Solana, Avalanche represents a logical next step in their crypto expansion strategy.
Competition Heats Up in the Crypto ETF Arena
VanEck is not alone in this race. Grayscale Investments is also pursuing an Avalanche ETF, based on a closed-end AVAX fund launched in August 2024. In late March, Nasdaq filed a separate application to list Grayscale’s competing product. Grayscale has also shown interest in other altcoins, including XRP, HBAR, DOT, and LTC, proving that institutional players are racing to capture investor attention in this fast-evolving space.
These filings mark a turning point in the maturation of the crypto market, moving beyond its historical focus on Bitcoin and Ethereum as the sole candidates for regulated financial instruments. Although AVAX is currently trading at $18, down from its January high of $41, enthusiasm around Avalanche remains strong, driven by its solid infrastructure and long-term growth potential.
The Future of Altcoin ETFs Is Already Unfolding
The inclusion of AVAX in a formal SEC filing is more than just a regulatory step, it’s a powerful signal that the crypto ecosystem is becoming increasingly institutionalized and globally relevant. If approved, this ETF would represent a crucial advancement in legitimizing altcoins within traditional investment portfolios. For crypto advocates, this development represents one more stride toward a future where digital assets coexist with traditional finance, opening up exciting new investment opportunities in a regulated, secure, and accessible environment.
