🚀 #Grayscale Files for #AVAXETF 🚀
Grayscale has officially filed for a spot Avalanche ETF, partnering with Nasdaq and VanEck to bring institutional exposure to $AVAX . If approved, it would convert Grayscale’s existing $1.7M Avalanche Trust into a publicly traded fund.
🔹 Why It Matters:
✅ Makes AVAX more accessible to institutional & retail investors
✅ Signals growing interest in alternative blockchains beyond $BTC & $ETH
✅ Custody by Coinbase, admin by BNY Mellon, benchmark by CoinDesk Indices
📉 AVAX Market Reaction:
Despite the bullish news, AVAX has dropped 8% in 24 hours, now trading at $20.09. The market awaits SEC approval, which could boost adoption if granted.
🔥 Will this be the next big crypto ETF?
