- VanEck files an S-1 document with the SEC to launch an Avalanche ($AVAX) ETF, aiming to offer retail investors direct exposure to the blockchain’s native token.
- The ETF’s valuation will follow the Avalanche Benchmark Rate, calculated by MarketVector using prices from the top five AVAX trading platforms for accuracy and transparency.
- AvaLabs CEO Emin Gün Sirer celebrated the development, highlighting its potential to provide new and convenient ways for investors to participate in Avalanche’s cutting-edge blockchain network.
Investment fund manager VanEck has officially filed an S-1 document with the U.S. Securities and Exchange Commission, requesting permission to launch an Avalanche ($AVAX) exchange-traded fund.
The proposal, which aims to expose AVAX to traditional retail investors, was outlined in the preliminary prospectus on March 15. This new ETF seeks to mirror the performance of AVAX while deducting operational expenses
Moreover, the document also reveals that the price of the AVAX ETF shares will be based on the ‘Avalanche Benchmark Rate’, which is to be calculated by financial indexes and benchmarks provider MarketVector, based on the top 5 AVAX trading platforms.
AvaLabs founder and CEO Emin Gün Sirer celebrated the news on his personal Twitter account. In the post, Gün Sirer shared how excited he was about the new development, arguing that the AVAX ETF will offer a “new and convenient” way for people to participate in one of the most technologically advanced blockchain networks.
This development arrives amid increasing interest in cryptocurrency ETFs, driven by a growing demand for alternative digital asset investments. While the SEC’s approval process for crypto-related ETFs has historically been rigorous, this filing could signal broader acceptance of blockchain assets within traditional financial markets, potentially paving the way for even more altcoin ETFs entering the market.
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