VanEck Resubmits Application for Spot Avalanche ETF

VanEck has amended its application for a spot Avalanche (AVAX) ETF with the SEC, aiming for a Nasdaq listing under the ticker VAVX with a 0.30% management fee.

The ETF could enhance AVAX accessibility and liquidity, influencing investor interest and market dynamics as it awaits regulatory approval.

VanEck Enlists Coinbase and Anchorage for AVAX ETF

VanEck’s recent amendment for a spot Avalanche ETF underscores its commitment to offering diverse crypto investment options. The asset manager has enlisted Coinbase Crypto Services as the staking provider. Anchorage Digital Bank will serve as the primary custodian, with plans to list the ETF on Nasdaq under ticker VAVX.

If approved, VAVX would offer a direct investment path in AVAX, applying a 0.30% management fee with no waivers. The ETF engages Coinbase Custody for secondary services and State Street as the cash custodian.

AVAX Market Trends and Potential ETF Impact

Did you know? The SEC has historically displayed caution towards crypto ETFs, often sparking debates over market maturity and asset security.

Avalanche (AVAX) currently trades at $12.26, with a market cap of $5.26 billion, according to CoinMarketCap. Recent metrics spotlight a 0.80% uptick in 24 hours, contrasting a 60-day decline of 40.79%. With a circulating supply of over 429 million, AVAX continues to hold a market dominance of 0.18%.

Coincu analysts suggest that a successful ETF launch could reinforce confidence in AVAX, potentially influencing other blockchain projects to pursue ETF listings. Such regulatory developments could contribute to broader adoption and stability for cryptocurrency investments.