Grayscale is moving forward with his plans to turn his avalanche Trust in a background quoted in spots (ETF)Submit an S-1 registration statement to the US stock and values commission. UU. Friday.
If approved, the fund would be negotiated in Nasdaq, giving traditional investors easier access to Token Avax through a regulated vehicle.
The movement marks the second regulatory step in the conversion process, after the initial 19B-4 presentation of Grayscale in March. The Fund would allow creations and cash refunds, administered by authorized participants. Coinbase would provide the main brokerage services, including AVax custody and commercial execution, while Bny Mellon would act as administrator and transfer agent.
Grayscale launched its Avalanche Trust in August 2024 as part of a broader expansion in Altcoin -centered investment products. Currently, the fund manages just under $ 15 million in assets, with a net asset value per share of 12.20%. That is less from a maximum of 27% in December, which reflects both the widest recession of the crypto market and the Avax slide.
Avalanche is a layer of proof test blockchain designed for customizable and scalable networks called “subnets”. These allow developers to create specific application chains while maintaining compatibility with the broader avalanche ecosystem. In recent months, the institutional interest in Avalanche has grown. Visa integrated the network into its Stablecoin settlement system, and the launch of the Avalanche Visa card allows users to spend AVAX and Stablecoins as USDC directly.
Even so, Avax has not escaped winds against the market. The Token is contributed at $ 24.25, 9% less than last year and a 55% discount at its historical maximum of $ 54.11 in December.
The gray scale is not alone in its impulse for an ETF Avax. Vaneck and several other asset administrators have also submitted similar applications, betting that investors are looking beyond Bitcoin and Ethereum for exposure to ETF.
If the S-1 cleanses the regulatory obstacles, the AVAX ETF would become one of the first products that are quoted in the United States that track a intelligent contract block chain outside the major leagues. That could indicate a change in how traditional financing to digital assets is assigned, with specific token infrastructure works that become part of diversified cryptographic investment strategies.
