Nasdaq seeks SEC approval for grayscale’s Avalanche ETF listing

#Nasdaq has filed a request with the U.S. Securities and Exchange Commission #SEC to list #Grayscale Investments’ #Avalanche exchange-traded fund (ETF). The proposal seeks to convert the Grayscale Avalanche Trust $AVAX , a closed-end fund launched in August 2024, into a spot ETF.

Grayscale argues that the #ETF structure would improve price tracking through arbitrage mechanisms. The fund currently holds $1.76 million in assets, trading at a slight premium to its net asset value.