On March 28, 2025, Nasdaq filed an application with the U.S. Securities and Exchange Commission (SEC) to list the Grayscale Avalanche Trust ETF, as reported by Binance Square. This ETF would allow investors to gain exposure to AVAX, the native token of the Avalanche blockchain, without directly managing the cryptocurrency. Grayscale Investments, a pioneer in crypto asset management, aims to expand its offerings beyond Bitcoin and Ethereum, following the success of its spot BTC and ETH ETFs earlier this year.
Avalanche, launched in 2020 by Ava Labs, is a high-speed blockchain known for processing up to 4,500 transactions per second with low fees. AVAX, with a market cap of about $15.37 billion, powers its ecosystem, supporting staking, fees, and custom subnets. The ETF filing under Nasdaq Rule 5711(d) could boost AVAX’s adoption, reflecting the growing demand for regulated crypto investment options.
This move follows Grayscale’s launch of a private AVAX trust in August 2024 and aligns with the broader trend of crypto ETFs gaining traction in the U.S., spurred by recent Bitcoin and Ethereum ETF approvals. If approved, the Grayscale Avalanche Trust ETF could attract more institutional and retail investors to the AVAX ecosystem.