Leading cryptocurrency investment firm Grayscale Investments has submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) to launch a spot exchange-traded fund (ETF) for the cryptocurrency Avalanche (AVAX).
Last Friday, Grayscale officially filed with the SEC to convert the current Avalanche Trust into a publicly traded ETF, according to a registration announcement released on Monday.
This proposed fund uses similar language to the ticker symbol of the Avalanche cryptocurrency, aiming to provide investors with direct access to the asset through traditional brokerage accounts.
Coinbase Custody will serve as the custodian for AVAX, while BNY Mellon is expected to act as the fund's administrator and transfer agent.
Nasdaq filed with the SEC to list AVAX in March.
Grayscale's S-1 filing for the Avalanche spot ETF was submitted just a few months after the Nasdaq stock exchange filed for the fund's listing in March 2025.
"Regarding the effectiveness of this registration statement and the listing of Shares on the Nasdaq stock exchange, the sponsor intends to rename the Trust to Grayscale AVAX Trust ETF as stated in the registration announcement," Grayscale said in the filing.
This AVAX spot application was made one year after Grayscale launched the Avalanche Trust, an AVAX investment fund, in August 2024.
This move aligns with Grayscale's aggressive expansion strategy in the field of spot cryptocurrency ETFs, including filings for ETFs tracking XRP and Dogecoin (DOGE) made earlier this year.
