Grayscale Investments filed with the U.S. Securities and Exchange Commission (SEC) to transform its existing Avalanche Trust into a publicly traded spot exchange-traded fund (ETF) on Nasdaq. The filing, dated August 22 , signals Grayscale’s growing interest in broadening its crypto offerings beyond its well-known Bitcoin and Ethereum-based products. Grayscale Outlines Avalanche ETF Plan and Eyes Public Listing Grayscale said that the proposed ETF will be structured to mirror the price of AVAX . The 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 tracking. If staking is approved and conditions are met, the issuer expects to keep up to 85% of the trust’s AVAX staked at any time. Staking rewards, if earned, would be reflected in the fund. Coinbase has been tapped to provide brokerage and custody services, while BNY Mellon would act as administrator and transfer agent. Creations and redemptions of ETF shares would take place in cash through authorized participants. Beyond product launches, Grayscale is advancing its long-term corporate plans. Under 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 listing . These 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 products. The company already runs two of the biggest spot Bitcoin ETFs worth a total of $25 billion. It also manages the second-largest Ethereum fund with over $5 billion in assets. Grayscale has also been steadily expanding its ETF pipeline . Earlier this month, NYSE Arca filed to list the Grayscale Dogecoin Trust as a spot ETF. Nasdaq previously submitted documentation to list shares of the Avalanche ETF. At 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 assets. Alongside 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 market. AVAX is currently trading at $24.21, down nearly 4%, with a $10 billion market cap, according to CoinMarketCap data. Despite price swings, analysts see the move as a sign of growing institutional access to crypto. Market 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. The post Grayscale Pushes for Avalanche ETF in Major Altcoin Pivot appeared first on TheCoinrise.com .
