Catenaa, Wednesday, April 02, 2025- Nasdaq has filed a 19b-4 form with the Securities and Exchange Commission (SEC) to list and trade shares of Grayscale’s proposed spot Avalanche exchange-traded fund.
The filing, submitted Thursday, marks another step in Grayscale’s effort to expand its crypto ETF offerings beyond Bitcoin and Ethereum. If approved, the ETF would convert Grayscale’s existing Avalanche Trust into a publicly traded fund.
According to the filing, the fund’s assets would consist solely of AVAX, the native token of the Avalanche blockchain. Coinbase is named as custodian, while BNY Mellon Asset Servicing is expected to serve as the administrator and transfer agent.
Grayscale follows asset manager VanEck, which submitted its own S-1 registration for an Avalanche ETF last week. The SEC has yet to approve any spot Avalanche ETFs.
Since the re-election of President Donald Trump, asset managers including Fidelity, Franklin Templeton and Bitwise have filed for new spot crypto ETFs, expanding beyond Bitcoin and Ethereum.
The SEC’s approach to cryptocurrency has shifted following the departure of former Chair Gary Gensler in January. His replacement, former regulator Paul Atkins, awaits Senate confirmation. Meanwhile, the SEC has established a crypto task force led by Commissioner Hester Peirce to develop clearer regulatory guidelines.
AVAX is down 7.4% in the past 24 hours, trading at $20.37, according to The Block’s Avalanche price page.
