Grayscale Files for $AVAX ETF with Nasdaq

Grayscale Investments has filed for an Avalanche ($AVAX) exchange-traded fund (ETF) with Nasdaq. The filing, which includes Form 19b-4 submitted to the U.S. Securities and Exchange Commission (SEC), aims to convert Grayscale's existing AVAX trust into a publicly traded fund.

This move follows a similar filing by Vaneck for an AVAX ETF, indicating growing interest in the cryptocurrency among major financial institutions. The proposed ETF would allow investors to gain exposure to AVAX without directly holding the cryptocurrency.

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