VanEck Files to Launch an AVAX ETF
VanEck is seeking approval from the US Securities and Exchange Commission (SEC) to launch an AVAX exchange-traded fund (ETF).
The “VanEck Avalanche ETF” was filed according to a registration statement submitted on Friday. The ETF’s goal is “to reflect the performance of the price of ‘AVAX,’ the native token of the Avalanche network, minus the Trust’s operational expenses,” as stated in the filing.
Registered in Delaware, this marks the first known AVAX ETF application. Bloomberg Intelligence analyst James Seyffart noted on Friday that while the trust registration was widely discussed earlier, this filing is the first with the SEC.
Additionally, firms are seeking SEC approval for various crypto ETFs, including those tracking SOL, XRP, DOGE, and LTC. Previously, the SEC approved spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July.
