Crypto asset manager Grayscale has submitted a 19b-4 filing with the US Securities and Exchange Commission (SEC) to approve the listing of a spot Avalanche ETF on the Nasdaq.
Grayscale already operates an Avalanche Trust that carries a 2.5% management fee. The addition of an ETF would offer investors a cheaper, more flexible investment vehicle with exposure to the AVAX token.
BREAKING:
GRAYSCALE HAS FILED FOR $AVAX SPOT ETF. pic.twitter.com/WMgqqFg1ht
— Ash Crypto (@Ashcryptoreal) March 28, 2025
AVAX The Latest To Receive An ETF Filing, Although None Beyond BTC and ETH Have Been Approved – Yet
This latest filing from Grayscale reflects an industry trend toward developing regulated investment vehicles for crypto beyond just Bitcoin. Although these filings are in their infancy, the SEC has yet to approve any spot altcoin ETFs beyond Ethereum.
There are currently ETF filings for Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Ripple (XRP), Polkadot (DOT), and now Avalanche (AVAX). Grayscale was also behind the Cardano ETF filing earlier this month.
If approved, Grayscale’s Avalanche ETF would offer another path for traditional investors access to crypto assets via conventional brokerage accounts. According to the 19b-4 filing, Coinbase Custody would act as the ETF’s custodian.
Like the BTC and ETH funds, the Avalanche ETF would hold AVAX directly, tracking the token’s market price. However, Grayscale isn’t the first company to explore an AVAX ETF, as VanEck filed an S-1 form for an Avalanche ETF earlier this month.
NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.
Here's the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
— James Seyffart (@JSeyff) February 10, 2025
News Of A Potential Avalanche ETF Not Enough To Stop AVAX Bleeding
Even with what should be bullish news for AVAX holders, the cryptocurrency is down nearly 6.5% over the past 24 hours after slipping from $22.2 to its current price of $20.3. While it doesn’t look great on a daily timeframe, zooming out to a higher time frame (HTF) paints a better picture.
It has taken out previous lows in the $16 range and bounced above $20. The chart now looks to be putting in a double bottom on HTF giving it a very bullish structure.
In comparison to most other salts on the market, AVAX is showing a lot of relative strength. While the majority of recent major moves from other coins have come from meme coins, AVAX is keeping up with them as a multi-billion dollar Layer-1 protocol, an impressive feat.
It’s holding above a very strong support right now at $20 and with barely any drawbacks. Once BTC breaks out from $88,000 and hopefully flips that level to support, AVAX will likely continue its bullish momentum and will aim for $30 in no time.
( COINGECKO )
BONUS: Meme Index (MEMEX) Hits $4.3m In Presale Funding As It Draws To A Close
( @memecoin_index )
Even with the Meme Index (MEMEX) presale closing in less than three days, this hot new meme coin project continues to attract healthy early-stage investment.
MEMEX offers the perfect solution for newer or time-strapped investors who want to dip their toes into the meme coin sector without getting deep in the trenches.
The meme coin space is notorious for moving at a breakneck pace, making it hard for even the most experienced traders to keep up with the price action.
This is where MEMEX enters the chat. It is a first-of-its-kind platform offering users a chance to invest in a basket of meme coins, with four different funds on offer. There is an index for everyone, from the degen traders to those with a more risk-averse appetite.
The Four Meme Index Baskets Explained In Detail:
Meme Titan Index: Includes meme coins valued at $1 billion or more for the more risk-averse.
Moonshot Index: This index features tokens valued between $250 million and $1 billion for those hoping for an established meme to become the next DOGE.
Midcap Index: This index covers tokens ranging from $50 to $250 million, and it is for those wanting a healthy level of risk.
Meme Frenzy Index: Consists of tokens valued under $50 million for true degens.
The experienced team behind MEMEX carefully curates these Meme Index baskets. However, MEMEX also acts as a governance token, giving holders a say on which tokens to add or remove from a particular fund.
Meme Index just hit a landmark $4.3 million in presale funding, which is sure to surge even higher in its closing days as market attention once again shifts back toward meme coins.
Join the Meme Index community on Telegram and X to stay up-to-date with the team’s latest developments and news.
VISIT THE MEME INDEX PRESALE HERE
DISCOVER: Best Meme Coin ICOs to Invest in March 2025
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Crypto asset manager Grayscale files for an Avalanche (AVAX) ETF
- Grayscale aren’t the first to file for an AVAX ETF after VanEck filed earlier in March
- Even with the latest ETF filing, AVAX is downnearly 6.5% on the day but still holding a bullish HTF structure
- The Meme Index (MEMEX) presale ends in less than three days and just hit $4.3m in early stage funding
