Bitwise Files SEC Registration for Avalanche ETF, Ticker Symbol Pending

Bitwise Asset Management filed for SEC registration for a spot Avalanche ETF, joining VanEck and Grayscale in the race to offer institutional exposure to AVAX through regulated investment ￰1￱ passively managed fund aims to mirror Avalanche’s value minus operational expenses, with Coinbase Custody serving as the digital asset ￰2￱ filing details a Delaware statutory trust structure offering cost-effective exposure to Avalanche through traditional securities ￰3￱ trust will hold only AVAX tokens and use the CME CF Avalanche-Dollar Reference Rate as its pricing benchmark, calculated daily at 4:00 PM ET from multiple constituent ￰4￱ Foundation is simultaneously raising $1 billion through two crypto treasury vehicles led by Hivemind Capital and Dragonfly ￰5￱ in: Bitwise files Form S-1 for $AVAX ETF ￰6￱ — The Wolf Of All Streets (@scottmelker) September 15, 2025 ETF Arms Race Intensifies as Multiple Firms Target AVAX Approval The Bitwise registration follows VanEck’s March filing and Grayscale’s Form 19b-4 submission through Nasdaq for Avalanche ETF ￰7￱ Intelligence assigns high approval odds for altcoin ETFs this year, with institutional demand driving applications beyond Bitcoin and Ethereum ￰8￱ previously experienced regulatory turbulence when the SEC granted accelerated approval for its 10 Crypto Index ETF in July before reversing the decision hours later through a stay ￰9￱ multi-asset fund would have included Avalanche alongside Bitcoin, Ethereum, XRP, and Solana, with 85% allocation to previously approved ￰10￱ launched the Purpose-built Fund specifically for Avalanche-based businesses, utilizing native real-world asset products and tokenized money market ￰11￱ fund targets capital appreciation through investments in digital assets with a market capitalization of over $100 million across the finance, payments, gaming, and AI sectors.

Grayscale’s pending conversion of its Digital Large Cap Fund to ETF status includes Avalanche alongside Bitcoin, Ethereum, Solana, and ￰12￱ fund maintains a 79.9% Bitcoin allocation and an 11.3% Ethereum allocation, with the remaining assets distributed among approved ￰13￱ competitive landscape intensified as major institutions began to engage with Avalanche’s blockchain for portfolio management and digital asset ￰14￱ expanded access to its USD Institutional Digital Liquidity Fund to include Avalanche in November 2024, following initial Ethereum ￰15￱ Approval Timeline Faces Uncertainty Amid Treasury Vehicle Launch The SEC’s cautious approach to altcoin ETFs creates uncertainty despite technical compliance with existing ￰16￱ Paul Atkins established a crypto task force to develop clear rules, following years of “regulation by enforcement” under the previous ￰17￱ decisions on multiple altcoin ETFs were delayed until October, with the Commission citing the need for “longer periods” to consider proposed rule ￰18￱ SEC has delayed decisions on multiple altcoin spot ETFs, including XRP, Solana, and Litecoin, citing the need for more ￰19￱ say it’s standard procedure and remain optimistic about approval. #CryptoETFs #SEC ￰0￱ — ￰20￱ (@cryptonews) March 12, 2025 The approval process involves 21-day public comment periods, allowing industry stakeholders to provide input before final decisions are made.

Avalanche’s proof-of-stake consensus mechanism and subnet architecture differentiate it from Bitcoin’s energy-intensive ￰21￱ network’s three-blockchain structure supports token creation, validator management, and smart contracts, while enabling custom permissioned blockchains that rely on the main network’s security and ￰22￱ simultaneous treasury vehicle launches aim to garner serious institutional conviction through SPAC structures and private ￰23￱ Capital’s $500 million vehicle aims for September completion, while Dragonfly Capital’s equivalent SPAC targets October ￰24￱ the time of writing, AVAX is trading at $29.91, representing technical momentum testing $30 ￰25￱ Analysis Points to Breakout Momentum Following ETF Filing AVAX exhibits classic descending wedge characteristics on hourly charts, trading at $29.90 near the pattern’s apex with upper trendline resistance and dynamic support convergence.) September 15, 2025 The macro perspective shows AVAX’s 240% recovery from cycle lows around $8.50, positioning the token in the critical $30-35 resistance ￰26￱ trading above current breakout levels could open pathways toward $50 with minimal intermediate ￰27￱ approval precedents from Bitcoin and Ethereum suggest initial announcements generate 50-100% advances within weeks of ￰28￱ technical setup positions AVAX optimally to capture such moves through descending wedge momentum combined with institutional validation.

AVAX’s immediate trajectory targets the $35-40 region following successful wedge breakouts, with long-term potential extending toward $50 levels based on minimal resistance structures.