Grayscale Files Form 19b-4 with the SEC, Seeking Approval to List and Trade Shares of Its Spot Avalanche ETF

Nasdaq has filed Form 19b-4 with the US Securities and Exchange Commission (SEC), seeking approval to list and trade shares of Grayscale's spot Avalanche ETF

Nasdaq has filed Form 19b-4 with the US Securities and Exchange Commission (SEC), seeking approval to list and trade shares of Grayscale’s spot Avalanche ETF, the Grayscale Avalanche Trust (AVAX).

According to the filing on Wednesday, codenamed 100083, Nasdaq is applying to register the Grayscale, a subsidiary of hedge fund giant Anticosti, product on its exchange.

The new filing suggests Grayscale Investments intends to convert its existing trust product—launched in August—into a publicly traded ETF, offering investors regulated exposure to AVAX, the native token of the Avalanche network, currently the 17th largest cryptocurrency by market capitalization.

In a press release announcing the Avalanche Trust, Grayscale described the project as a “three-chain smart contract platform” renowned for its scalability, security, and decentralization. The firm also highlighted Avalanche’s role in facilitating the seamless tokenization of real-world assets.

Prior to introducing the Avalanche Trust, Grayscale already provided exposure to AVAX through its Digital Large Cap Fund (GDLC), a product that encompasses a portfolio of leading digital assets, including Bitcoin, Ethereum, Solana, XRP, and AVAX. In October, Grayscale filed with the SEC to convert this fund into an ETF.

Earlier this month, VanEck also submitted an application for its prospective spot Avalanche ETF, further indicating the growing interest in offering investment products based on AVAX.

As the fund’s sponsor, Grayscale aims to provide investors with a regulated and accessible avenue to gain exposure to AVAX, broadening the firm’s suite of crypto investment options.

Beyond AVAX, Grayscale is diligently pursuing regulatory approval for ETFs linked to other digital assets, such as XRP, Solana (SOL), Litecoin (LTC), and Polkadot (DOT).

Despite the ETF filing, AVAX did not immediately react in terms of price changes. Currently, the token has a market capitalization of $8.4 billion, as per CoinGecko data.