๐จ๐จ #GrayscaleETF ๐จ๐จ
๐จ BREAKING: Grayscale Files for Avalanche ($AVAX ) ETF on Nasdaq! โ๐
๐ Key Details:
๐ ETF Structure: Grayscale's proposed spot AVAX ETF will hold AVAX tokens directly, allowing investors regulated exposure without direct ownership complexities. (Coindesk)
๐๏ธ SEC Review Process: Nasdaq has submitted a 19b-4 filing with the SEC on March 27, 2025, starting a 90-day review window for regulatory approval. (Coindesk)
๐ Custodial Services: If approved, Coinbase Custody Trust will serve as the official custodian, ensuring secure AVAX storage for the ETF. (Coindesk)
๐ฐ Existing Trust Conversion: Grayscaleโs current Avalanche Trust ($1.7M AUM, 2.5% fee) could transition into this ETF for broader accessibility. (CoinTelegraph)
๐ Market Context: This move follows VanEckโs recent AVAX ETF filing, signaling rising institutional interest in Avalanche-based investments. (Coindesk)
๐ AVAX Price Reaction: Despite the ETF filing, AVAX fell 6.6% in 24H, trading at $20.50 amid a broader crypto market downturn. (Coindesk)
๐ If approved, this ETF could bring mainstream adoption to AVAX! Will the SEC greenlight it? Stay tuned! ๐ฅ
