Grayscale Files for a Spot Avalanche (AVAX) ETF with the SEC, Aiming to Expand Its Crypto Offerings to Institutional Markets

Grayscale has filed with the SEC to list its spot Avalanche ETF on Nasdaq, aiming to expand its crypto offerings to institutional markets.

Grayscale is applying for a spot Avalanche ETF with the SEC, aiming to expand its crypto offerings to institutional markets. Meanwhile, Ozak AI (OZ) is emerging as a new AI-powered crypto that experts believe will transform into the next institutional choice for exposure in a similar way to Avalanche.

Grayscale Seeks SEC Approval To List Spot Avalanche ETF On Nasdaq

Grayscale has filed with the SEC to list its spot Avalanche ETF on Nasdaq. The application proposes converting the existing Avalanche Trust into a listed ETF.

The product, launched in August 2024, currently manages $1.7 million and charges a 2.5% annual fee.

🚨Grayscale has filed for a spot Avalanche ETF with the SEC.

The company is aiming to convert its existing Avalanche Trust into a listed ETF on Nasdaq. The product, which launched in August with $1.7 million in assets under management, charges a 2.5% annual fee and provides exposure to AVAX.

— Billion Crypto (@Billion_Crypto1) March 27, 2024

The ETF would offer exposure to AVAX through conventional brokerage platforms. Coinbase Custody will handle custody services, while BNY Mellon will provide administrative support. CSC Delaware Trust Company will act as trustee for the fund.

The fund aims to track AVAX using a benchmark index provided by CoinDesk Indices.

Ozak AI Gains Attention in the Crypto Space

Ozak AI is quickly becoming one of the frontrunners in the space where AI is implemented in the crypto field. The project uses real-time data processing and machine learning to aid decision-making in fast markets.

The platform incorporates a design that enables the development of precise predictive analysis by deploying customizable agents. These models can be adjusted to fit diverse trading strategies and use cases.

In addition, Ozak AI’s infrastructure consists of the Ozak Stream Network (OSN) for low-latency data handling. It also entails Decentralized Physical Infrastructure Networks (DePIN) for better efficiency and system reliability.

The setup allows enterprises to adopt AI and blockchain in one platform without centralized control.

Ozak AI’s technology works across various sectors but strongly aligns with financial tools. It seeks to help institutions navigate complex data using AI without risking data security. The platform allows for the analysis to be automatically scalable and yet transparent via blockchain.

Ozak AI’s Growth and Presale Success

Ozak AI has shown substantial interest following its popular presale period. At the moment, the project has raised more than $900,000, which proves the population’s demand for the token.

The third stage of the presale is ongoing, with the token pricing at $0.003.

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