Grayscale Has Submitted a 19b-4 Filing to the SEC to Approve the Listing of a Spot Avalanche (AVAX) ETF

Crypto asset manager Grayscale has submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to approve the listing of a spot Avalanche ETF

Grayscale has submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to approve the listing of a spot Avalanche (AVAX) ETF on Nasdaq.

The crypto asset manager already operates an Avalanche Trust that carries a 2.5% management fee. The addition of an ETF would offer investors a cheaper, more flexible investment vehicle with exposure to the AVAX token.

AVAX The Latest To Receive An ETF Filing, Although None Beyond BTC and ETH Have Been Approved – Yet

This latest filing from Grayscale reflects an industry trend toward developing regulated investment vehicles for crypto beyond just Bitcoin.

Although these filings are still in their infancy, the SEC has yet to approve any spot altcoin ETFs other than Ethereum.

Currently, there are ETF filings for Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Ripple (XRP), Polkadot (DOT), and now Avalanche (AVAX). Grayscale was also behind the Cardano ETF filing earlier this month.

If approved, Grayscale’s Avalanche ETF would offer another path for traditional investors to gain access to crypto assets via conventional brokerage accounts. According to the 19b-4 filing, Coinbase Custody would serve as the ETF’s custodian.

Like the BTC and ETH funds, the Avalanche ETF would hold AVAX directly, tracking the token’s market price. However, Grayscale isn’t the first company to apply for an AVAX ETF, as VanEck filed an S-1 form earlier this month.