Grayscale Pushes for Avalanche ETF in Major Altcoin Pivot

Grayscale Investments filed with the ￰0￱ and Exchange Commission (SEC) to transform its existing Avalanche Trust into a publicly traded spot exchange-traded fund (ETF) on ￰1￱ filing, dated August 22 , signals Grayscale’s growing interest in broadening its crypto offerings beyond its well-known Bitcoin and Ethereum-based ￰2￱ Outlines Avalanche ETF Plan and Eyes Public Listing Grayscale said that the proposed ETF will be structured to mirror the price of ￰3￱ asset manager clarified that the trust will not use leverage, derivatives, or any complex trading strategies. Instead, it will remain a passive vehicle focused on price ￰4￱ staking is approved and conditions are met, the issuer expects to keep up to 85% of the trust’s AVAX staked at any ￰5￱ rewards, if earned, would be reflected in the ￰6￱ has been tapped to provide brokerage and custody services, while BNY Mellon would act as administrator and transfer ￰7￱ and redemptions of ETF shares would take place in cash through authorized ￰8￱ product launches, Grayscale is advancing its long-term corporate ￰9￱ the leadership of its founder and new chairman, Barry Silbert, the company has quietly filed documents with the SEC as it prepares for a possible public market ￰10￱ steps show Grayscale’s clear goal of becoming a top player in digital asset investing.

Grayscale’s Push Beyond Bitcoin and Ethereum in a Competitive Market This step is part of Grayscale’s bigger plan to expand beyond its main ￰11￱ company already runs two of the biggest spot Bitcoin ETFs worth a total of $25 ￰12￱ also manages the second-largest Ethereum fund with over $5 billion in ￰13￱ has also been steadily expanding its ETF ￰14￱ this month, NYSE Arca filed to list the Grayscale Dogecoin Trust as a spot ￰15￱ previously submitted documentation to list shares of the Avalanche ￰16￱ the same time, applications for funds tied to Solana (SOL), Cardano (ADA), Litecoin (LTC), and a multi-crypto basket are also in progress. Meanwhile, competition in the ETF space is heating up as multiple firms attempt to widen investor access to digital ￰17￱ Grayscale, players such as Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree have filed updates for spot XRP ETFs.

Grayscale’s Avalanche ETF Faces Mixed Market Reaction Grayscale’s ETF filing comes at a time of mixed sentiment in the crypto ￰18￱ is currently trading at $24.21, down nearly 4%, with a $10 billion market cap, according to CoinMarketCap ￰19￱ price swings, analysts see the move as a sign of growing institutional access to ￰20￱ experts say these moves show growing support under the current U. S. administration, with Bloomberg’s James Seyffart calling the filings expected but still a “good sign” for the market.