Nasdaq presented a 19B-4 presentation to the US stock and values commission. UU.
Grayscale already manages an avalanche trustee that has a management rate of 2.5%. The presentation could lead to a cheaper and more flexible investment vehicle with exposure to Token Avax, and reflects a trend of the industry towards the development of regulated vehicles for the Altcoins trade. The SEC, however, has not yet approved any ETF of Altcoins beyond those that offer exposure to Ether (ETH).
If approved, the Grayscale fund would offer another way for traditional investors to access cryptography assets through conventional brokerage accounts. The custodian of the ETF would be the custody of Coinbase, according to Tot I have presented.
The ETF would maintain AVAX directly, tracking the market price of the Avalanche network. The cryptocurrency is at the time of writing that is quoted at $ 20.5 after losing 6.6% of its value in the last 24 hours in the midst of a broader market reduction that has seen the COINDESK 20 (CD20) index fall in more than 4%.
Other companies are also looking for Avalanche. Earlier this month, Vaneck presented an S-1 form for an Avalacha ETF.
Last month, Grayscale also requested a Cardano ETF, which would become the company’s first investment vehicle of the company.
