VanEck Files for Avalanche ETF as AVAX Dips: What’s Next for the Token?
Global investing company VanEck hinted at a potential application for a spot AVAX ETF by registering an Avalanche ETF in the US. According to public records on the official Delaware state website, VanEck filed a new cryptocurrency investment product, the VanEck Avalanche ETF, in Delaware on March 10.
The proposed new product, filed under registration number 10125689, was registered as a trust corporate service corporation in Delaware, just like VanEck‘s earlier crypto ETF filings. According to CoinGecko, the filing coincides with a significant market sell-off, with Avalanche down 55% so far this year.
VanEck’s Avalanche ETF Filing Marks Another Milestone in the Company’s Crypto ETF Journey
With the new filing, VanEck registered Avalanche as a distinct ETF in Delaware, joining Bitcoin, Ether, and Solana as the other three cryptocurrency assets. As previously said, VanEck was among the first issuers to submit a spot Solana ETF application to the SEC in June 2024.
Known for being the first ETF provider to file for a futures Bitcoin ETF in 2017, VanEck has become one of the leading ETF players in the cryptocurrency sector and was one of the first spot issuers of Bitcoin ETFs in the US in 2024. Before establishing an XRP ETF, some members of the cryptocurrency community pointed out that VanEck was proceeding with a possible Avalanche ETF.
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