Grayscale Dey Seek SEC Approval for Nasdaq AVAX Spot ETF

Grayscale Investments don file S-1 registration wit di U.S. SEC on August 22, 2025, to change e Avalanche Trust into spot AVAX ETF wey go dey trade for Nasdaq under di ticker AVAX. Di proposal wey be di second stage of approval go rename di fund to Grayscale AVAX Trust ETF. Di AVAX ETF go use basket-based creation/redemption system wey get 10,000 shares per basket. Authorized participants fit transact in cash, as one designated liquidity provider go dey handle AVAX token trading. Coinbase Custody go secure di holdings and BNY Mellon go manage di fund administration. If regulator approve, up to 85% of AVAX assets fit dey staked to generate yield. VanEck also don file for Avalanche ETF, with e application acknowledgement by SEC for April 2025 and decision dey expected after one July delay. AVAX trade for $24.3, down over 35% year-to-date, compared with about 70% gains for Bitcoin and Ethereum. Launching AVAX ETF fit widen retail and institutional access to AVAX, test U.S. regulators’ view on altcoin ETFs, and affect AVAX liquidity and staking dynamics.