Grayscale is hoping to launch Avalanche, its digital asset management system.AVAXExchange-traded funds (ETFs) are available in the US.
Nasdaq, the Nasdaq Market submitted a proposal This week, the U.S. Securities and Exchange Commission will be requesting that Grayscale Avalanche Trust shares, which are entirely linked to AVAX, the native asset of layer-1, can be listed and traded.
Grayscale wasn’t the only financial titan to apply for Avalanche ETF. Documents submitted to the state of Delaware earlier this month suggest VanEck also hopes to launch a fund tied to the Ethereum (ETH) rival.
If approved, Coinbase Custody would be the custodian of Grayscale Avalanche’s ETF. The crypto asset management company also plans to launch Cardano-related funds.ADA), Solana (SOL), XRP Hedera) (HBAR).
Bitcoin is now available on the spot market for the first time.BTCETFs will be available in January 2024 and bring inflows worth billions of dollar to the largest digital asset by value. The regulator then approved Ethereum ETFs were traded in July.
Franklin Templeton, Hashdex and two other financial firms are also launched Earlier this year, BTC and ETH ETFs joined forces.
AVAX currently trades at $20.36. AVAX, the 17th most valuable crypto asset in terms of market capitalization, has fallen nearly 8% over the last 24 hours.
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