Avalon Labs Exploring Bitcoin-Backed Lending Products, Unveils AVL Token on Bybit

Avalon is on a mission to bring Bitcoin-backed financial products to both crypto and non-crypto users alike. Bitcoin, the only true digital gold, has already proven its value.

Avalon Labs, the company behind the Bitcoin (BTC)-backed lending protocol, has announced plans to launch a public fund that will be registered with the U.S. Securities and Exchange Commission (SEC).

The fund will be open to both accredited and non-accredited investors, with a minimum investment of $500. It will invest primarily in BTC, with the goal of generating a yield for investors.

Avalon Labs is already in talks with several large investment firms about distributing the fund to their clients. The company also plans to apply for a listing on the New York Stock Exchange.

If approved, the fund would be the first SEC-registered public fund to invest directly in Bitcoin. It would mark a significant milestone in the mainstream adoption of the cryptocurrency.

Avalon Labs is also planning to launch a Bitcoin exchange-traded fund (ETF) later this year. The ETF will be listed on a major U.S. stock exchange and will track the price of BTC.

Avalon Labs has already filed an application with the SEC for the ETF. The application is currently under review by the SEC staff.

The SEC has yet to approve a spot Bitcoin ETF, despite several applications from asset managers and cryptocurrency exchanges. However, the Commission has approved several futures-based Bitcoin ETFs, which began trading in 2021.

If approved, the Avalon Labs ETF would provide investors with another way to gain exposure to BTC within their traditional investment accounts.