Breaking: Grayscale Files Updated S-1 for Avalanche ETF With US SEC

Crypto asset manager Grayscale has submitted an updated S-1 filing to the U.S. Securities and Exchange Commission for its proposed Avalanche ETF, signaling progress toward a potential listing on Nasdaq. The filing represents the second amendment tied to the conversion of the Grayscale Avalanche Trust into a spot ETF.

According to the amended S-1, Grayscale updated disclosures related to in-kind creation and redemption, risk factors, tax treatment, and financial data. The filing also confirms Grayscale Investments Sponsors LLC as the sole sponsor of the trust. However, key details such as management fees, staking fees, or fee waivers were not disclosed, suggesting the issuer is still responding to SEC feedback during the review process.

The proposed ETF aims to trade under the ticker GAVX, while existing trust shares currently trade as AVAXFUN on OTC Markets. The move follows growing competition in the Avalanche ETF space, after VanEck revealed a 0.30% management fee and staking details for its own Avalanche ETF filing.

Market reaction has been mixed. Avalanche (AVAX) is up over 9% on the week but slipped more than 2% in the past 24 hours amid declining trading volumes. Derivatives data also points to softer sentiment, with $AVAX futures open interest trending lower across major exchanges.

The updated S-1 filing comes shortly after discussions between the SEC’s Crypto Task Force and industry groups, indicating continued regulatory engagement around spot crypto ETFs in the US.