Nasdaq has filed with the SEC to list the VanEck Avalanche Trust, an ETF offering indirect exposure to the AVAX token. This move allows investors to benefit from AVAX's price movements without directly holding the token. VanEck Digital Assets will sponsor the trust, with a third-party custodian managing the tokens. This marks VanEck's fourth crypto ETF, alongside Bitcoin, Ether, and Solana products. Grayscale is also in the race, seeking to convert its AVAX fund into an ETF. Despite growing interest, AVAX has faced significant price drops in recent months.