Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) for the conversion of Grayscale Avalanche Trust into a spot ETF. Similarly, the firm has done so with its products based on $BTC and $ETH .

Grayscale Investments launched this trust in late August 2024. Initially, it was a closed fund that invested only in one asset — Avalanche ($AVAX ).

It is worth noting that the company later significantly expanded the ETF basket based on altcoins. Moreover, it does not plan to stop and intends to launch more such funds in the future.

According to the S-1 application submitted to the SEC on August 22, 2025, the issuance and redemption of trust shares will be conducted in cash. The custodian will be the Coinbase exchange, and the manager and transfer agent will be BNY Mellon bank.