Grayscale Files Registration Statement to Debut Spot Ethereum ETF

Vaneck Files S-1 Application to Launch Spot AVAX ETF

Cryptocurrency investment management firm Vaneck has filed an S-1 application with the US Securities and Exchange Commission (SEC) to launch a spot AVAX ETF, according to a report by CryptoSlate.

The proposed ETF, dubbed Vaneck AVAX ETF, will track the performance of the spot price of Avalanche (AVAX), a decentralized platform that supports the development of various blockchain-based applications. The fund will aim to provide investors with a way to gain exposure to the AVAX token without having to purchase and hold the underlying asset directly.

The S-1 filing marks the latest move by Vaneck to expand its offerings in the cryptocurrency space. The company has previously launched ETFs tracking the prices of Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies.

The proposed AVAX ETF will be listed on the CBOE BZX Exchange, Inc. and will have an expense ratio of 0.95%. The fund will be managed by Vaneck's experienced team, which has a proven track record of navigating the complexities of the cryptocurrency market.

The filing comes as the cryptocurrency market continues to experience significant growth, with AVAX being one of the top-performing assets in recent months. The platform's decentralized finance (DeFi) applications, including lending and borrowing protocols, have been particularly popular among investors.

The launch of the Vaneck AVAX ETF will provide investors with a new way to gain exposure to the AVAX token, which has been trading on various exchanges since its launch in 2020. The fund's listing will also help to increase the visibility and liquidity of the AVAX token, which could attract more investors to the platform.

The S-1 application is subject to review and approval by the SEC, which typically takes several months. Once approved, the Vaneck AVAX ETF will be listed on the CBOE BZX Exchange, Inc. and will be available for trading by investors.