VanEck Files S-1 Registration Form with the SEC to List and Trade Avalanche (AVAX) ETF

Dubbed the VanEck Avalanche ETF, the asset manager is yet to disclose the ticker symbol for the new product.

Global investment management firm VanEck has filed a new S-1 registration form with the US Securities and Exchange Commission (SEC) to list and trade Avalanche ETF.

The asset manager is yet to disclose the ticker symbol for the new product, which is called the VanEck Avalanche ETF.

The VanEck Avalanche ETF

In the S-1 registration statement, VanEck said the fund will track the price of the preferred market benchmark for the net asset value (NAV) of the fund’s shares. To achieve its objective, the firm said it will directly hold the preferred market benchmark in its portfolio and value its shares daily based on the reported MarketVector Avalanche Benchmark Rate.

According to the filing, the preferred market benchmark will be determined in accordance with the CCData Centralized Exchange Benchmark review report, and the values of the preferred market benchmark will be based on the prices of the top 5 AVAX trading platforms.

This S-1 registration is the first official step in the process of listing an ETF in the United States. VanEck remains an active player in the crypto ETF scene. As reported earlier by CoinGape, VanEck registered the AVAX ETF in Delaware earlier this week.

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