VanEck, a global investment management firm with $113.8 billion in assets, has officially registered a statutory trust for an Avalanche (AVAX) exchange-traded fund (ETF) in Delaware.
This move marks a significant step toward launching an AVAX ETF, reflecting growing institutional interest in digital assets.
VanEck Prepares for AVAX ETF Filing
According to official records, the VanEck Avalanche ETF trust was incorporated on March 10, under file number 10125689. While VanEck has yet to submit an official filing with the U.S. Securities and Exchange Commission (SEC), experts believe the firm may soon file an S-1 registration statement.
This filing will detail the ETF’s investment strategy, structure, and risks. Once submitted, the SEC will review the application, possibly requesting revisions before granting approval. If approved, VanEck can launch and market the ETF, making it available for public trading.
Growing Interest in Crypto ETFs
VanEck’s AVAX ETF filing comes amid a broader surge in crypto ETF interest. Other asset managers are also moving forward with similar initiatives:
- Canary Capital recently filed for a Sui (SUI) ETF in Delaware.
- Bitwise has taken steps toward launching an Aptos (APT) ETF.
These developments suggest growing demand for alternative crypto investments beyond Bitcoin (BTC) and Ethereum (ETH).
What is Avalanche (AVAX)?
Avalanche is a high-performance blockchain designed to support Web3 applications, including decentralized apps (dApps), NFTs, and DeFi. According to its website, Avalanche offers near-instant transaction finality and scales efficiently for widespread adoption.
AVAX, the network’s native token, is used for:
✅ Transaction fees
✅ Staking and network security
✅ Governance
Currently, AVAX ranks as the 20th largest cryptocurrency, with a $7.1 billion market cap.
AVAX Price Faces Challenges Despite Institutional Interest
Despite rising institutional attention, AVAX has struggled in the market. Over the past year, its price has plummeted 61%, with an ongoing decline since December 2024.
📉 Current Price: $17.20 (-5.3% in 24 hours)
📉 Weekly Decline: -14.7%
📈 Trading Volume Surge: +95.5%
While the global crypto market has dipped 8.1% in the past week, AVAX’s decline has been significantly steeper. However, the sharp rise in trading volume suggests increased activity, possibly signaling an upcoming shift in sentiment.
