Grayscale Files Spot Avalanche ETF Application with SEC Under AVAX Ticker

Grayscale Submits S-1 Registration for Avalanche ETF

Grayscale Investments has filed an S-1 registration statement with the US Securities and Exchange Commission to launch a spot Avalanche ETF. The major cryptocurrency investment firm submitted the application on Friday, seeking to convert its existing Avalanche Trust into a publicly traded exchange-traded fund.

The proposed fund will trade under the AVAX ticker, matching the underlying Avalanche cryptocurrency symbol. This structure is designed to provide investors with direct exposure to AVAX through traditional brokerage accounts, making cryptocurrency investment more accessible to retail investors.

Key Partners and Fund Structure

The Avalanche ETF will utilize established financial infrastructure to ensure secure operations. Coinbase Custody has been selected as the custodian for AVAX holdings, while BNY Mellon will serve as both the fund administrator and transfer agent.

This partnership structure mirrors successful cryptocurrency ETF launches, providing institutional-grade security and operational oversight for the fund's digital asset holdings.

Nasdaq Previously Filed for AVAX Listing Approval

The Grayscale S-1 filing follows earlier regulatory activity around Avalanche ETFs. Nasdaq submitted its own filing to the SEC in March 2025, seeking permission to list an AVAX ETF on its exchange platform.

According to the registration statement, Grayscale plans to rename the existing trust as "Grayscale AVAX Trust ETF" once the registration becomes effective and shares begin trading on the Nasdaq stock market.

Timeline and Background of Avalanche Investment Products

Grayscale's spot AVAX ETF application represents the natural evolution of its Avalanche investment offerings. The company initially launched the Avalanche Trust in August 2024, providing accredited investors with exposure to AVAX through a traditional investment vehicle.

This progression from private trust to public ETF follows Grayscale's established playbook, which has been successfully implemented with other cryptocurrency products including Bitcoin and Ethereum ETFs.

Part of Broader Crypto ETF Expansion Strategy

The Avalanche ETF filing aligns with Grayscale's aggressive expansion of spot cryptocurrency ETF offerings. The company has submitted multiple ETF applications throughout 2024 and 2025, including filings for XRP and Dogecoin exchange-traded funds earlier this year.

This diversification strategy positions Grayscale to capture growing institutional and retail demand for cryptocurrency exposure through regulated investment vehicles.

Regulatory Environment and Market Impact

The SEC's treatment of Grayscale's Avalanche ETF application will be closely watched by the cryptocurrency industry. Successful approval could pave the way for additional altcoin ETFs and signal broader regulatory acceptance of cryptocurrency investment products beyond Bitcoin and Ethereum.

The filing comes during a period of increased regulatory clarity in the cryptocurrency space, with the SEC having approved multiple spot Bitcoin and Ethereum ETFs in recent years.

What This Means for Avalanche and Investors

If approved, the Grayscale Avalanche ETF would provide the first regulated way for traditional investors to gain exposure to AVAX through standard brokerage accounts. This could potentially increase demand for Avalanche tokens and bring greater legitimacy to the Avalanche ecosystem.

For investors, the ETF would eliminate the technical barriers associated with directly purchasing and storing cryptocurrency, while providing the regulatory protections and tax advantages of traditional ETF investing.

The application represents a significant milestone for both Grayscale's product expansion and the broader adoption of alternative cryptocurrency investments in traditional financial markets.

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