Avalanche (AVAX) Adoption Poised to Get a Boost After Nasdaq Files Form 19b-4 with the US SEC to Apply for Listing Shares of Grayscale AVAX Trust

Avalanche's adoption is poised for a boost after Nasdaq files Form 19b-4 with the US SEC to apply for listing shares of Grayscale AVAX Trust, as per the official document.

Nasdaq has filed Form 19b-4 with the U.S. SEC to apply for listing shares of Grayscale’s AVAX Trust, marking a significant step in Avalanche’s journey.

Nasdaq Applies to List Grayscale’s AVAX Trust ETF (AETRU, AETRV)

According to the official document, Nasdaq has filed Form 19b-4 with the U.S. SEC to apply for listing shares of Grayscale’s AVAX Trust. The ticker symbols for the ETF are AETRU and AETRV.

This move could be crucial in boosting institutional confidence in cryptocurrencies. As a well-known and respected financial institution, applying to list a crypto ETF could encourage more institutions to follow suit.

Furthermore, this would provide a regulated and accessible entry point for investors interested in gaining exposure to Avalanche.

If approved, this ETF listing might also help to mitigate the competitive pressure on DEFI, ultimately driving broader adoption of the Avalanche ecosystem and strengthening the network.

The potential ETF, which would be directly holding AVAX tokens, is being applied for by Nasdaq, while the ATrust is being managed by Grayscale with a 2.5% fee.

A major crypto asset manager, Grayscale is a familiar name in the ETF sphere. Other firms, such as VanEck, are also working on Avalanche ETF listings.

This trust highlights Avalanche’s role in RWA tokenization and adds to Grayscale’s growing portfolio of crypto trusts, which includes $BTC, $ETH, and $SOL.

With recent expansions into $TAO, $SUI, and more, Grayscale is venturing deeper into the realm of crypto investing.

Avalanche’s token is known for its speed, offering faster transaction finality compared to Ethereum.

Following this development, AVAX’s technical price chart has formed a bullish structure, showcasing resilience in contrast to other altcoins.

Avalanche: Strong Support Level, BTC Breakout Key For Further Gains

Avalanche: Strong Support Level, BTC Breakout Key For Further Gains

Avalanche: Strong Support Level, BTC Breakout Key For Further Gains

According to experts, AVAX is displaying remarkable price strength with a very strong support level, leading to minimal pullbacks.

The key factor for the token’s fate rests on BTC breaking out from 88k, a critical point for sustained momentum.

If this momentum continues, one can expect to see $AVAX surge above 30′s in no time.

As one of the hottest tokens of 2021, AVAX is set to enter the top 10 soon with an ATOM merger also being planned, which could drive even more demand for the token.

One of the cleanest charts on the market at the moment Took out previous low and looks to be putting in a double bottom on HTF Overall very bullish structure being formed at the moment and it’s showing a lot of relative strength in comparison to other altsDespite the bullish outlook, AVAX’s price on the daily index is down 6.69%, trading at $20.42.

While bearish trends persist, strategic partnerships and network expansion bode well for a bullish future. Traders should prepare for volatility as this journey unfolds smoothly.