VanEck Files for an Avalanche (AVAX) Exchange-Traded Fund (ETF)

VanEck, a leading global investment management firm, has officially registered a statutory trust for an Avalanche (AVAX) exchange-traded fund (ETF)

VanEck, a leading global investment management firm, has officially registered a statutory trust for an Avalanche (AVAX) exchange-traded fund (ETF) in the state of Delaware.

This development signals the growing interest of institutional investors in the digital asset space.

VanEck’s Applied for Avalanche (AVAX) ETF Can Now Be Used to Trade

According to the official website of the state of Delaware, the VanEck ETF trust for Avalanche was incorporated on March 10. The file number is 10125689.

“This could indicate they may soon file for a spot AVAX ETF,” a user wrote on X.

Next, VanEck is expected to file a registration statement (S-1) with the US Securities and Exchange Commission (SEC). This filing will contain details about the ETF’s structure, investment strategy, risk factors, and other regulatory requirements.

The SEC will then review the filing and may request additional information or revisions. Once approved, VanEck can launch the ETF, preparing it for public trading and marketing it to potential investors.

The filing comes amid a broader wave of interest in cryptocurrency ETFs as other asset managers also advance similar initiatives.

Canary Capital recently set a Sui (SUI) ETF in motion with a Delaware filing. Meanwhile, Bitwise has also made a similar move for an Aptos (APT) ETF. These filings indicate an increasing appetite for alternative crypto assets beyond Bitcoin (BTC) and Ethereum (ETH).

Avalanche is a high-performance blockchain platform that supports Web3 technologies such as decentralized applications (dApps), non-fungible tokens (NFTs), and decentralized finance (DeFi).

“Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second,” the website reads.

AVAX, the native token of the Avalanche blockchain, is used for transaction fees, staking, network security, and governance. It is the 20th largest cryptocurrency, with a market capitalization of $7.1 billion.

However, despite its advanced technology and growing institutional interest, Avalanche has faced significant headwinds in the market.

The altcoin has experienced a dramatic 61% decline over the past year, trading at lows last seen in November 2023. In addition, its value has been undergoing a continuous decline since December 2024.

At the time of writing, AVAX’s trading price was $17.2, marking a 5.3% dip over the past 24 hours. Its performance over the past week shows a decline of 14.7%.

This underperformance contrasts sharply with the global cryptocurrency market, which is only down by 8.1% over the same period. Despite these challenges, Avalanche’s trading volume has surged, showing a 95.5% increase in the past day.