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

Investing.com -- Asset management firm, VanEck, has submitted a filing to launch an exchange-traded fund (ETF) that will monitor the price of Avalanche's avax coin.

Asset management firm, VanEck, has submitted a filing to launch an exchange-traded fund (ETF) that will track the price of Avalanche’s avax coin.

The firm is planning to list the ETF, named VanEck Star Token Trust - Avalanche, on the Nasdaq exchange, according to the filing.

The filing comes as investment companies continue to unveil new products in a bid to attract investors who are looking for the next big token, fueled by bitcoin’s outstanding performance.

Earlier this month, Franklin Templeton also submitted a filing for an ETF linked to the spot price of the cryptocurrency XRP.

The company had also applied to launch an ETF that will follow the spot price of Solana in February.

Avalanche’s avax coin currently has a market capitalization of about $8 billion, according to the cryptocurrency data and analysis company CoinGecko.

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