Moving forward in its plans to transform the ice breakdown Confidence in a trading box for exchange (ETF)presentation Registration statement S-1 With the US Securities and Stock Exchange Committee on Friday.
If approved, the fund will be traded on Nasdak, allowing traditional investors to access the Avax code through an organized vehicle.
This step is the second organizational step in the transfer process, after the Ramadians The first deposit of 19B-4 in March. The fund will allow creativity and recovery in cash, run by accredited participants. Coinbase will provide major brokerage services, including AVAX custody and trade implementation, while BNY Mellon will act as an official and transfer agent.
GrayScale launched the confidence of Avalanche Trust in August 2024 as part of the broader expansion of investment products that focus on Altcoin. The fund is currently running less than $ 15 million of assets, with a net asset value per share 12.20 %. This decreased from an increase of 27 % in December, reflecting both the shrinkage of the broader encryption market and the slide of Avax prices.
Avalanche is a layer of guidance layer 1 Blockchain designed for developed and developed networks called “sub -networks”. This allows developers to create applications for application while maintaining compatibility with the ecosystem for broader ice collapse. In recent months, institutional interest has grown in collapse. Visa merged the network into its Stablecoin settlement system, and the launch of the Valanche Visa card allows users to spend AVAX and Stablecoins like USDC directly.
However, AVAX has not escaped from the opposite winds on the market. The distinctive symbol is trading at $ 24.25, a decrease of 9 % over the past year and 55 % of its highest level ever at $ 54.11 in December.
Grayscale is not alone in pushing it to Avax ETF. VANECK and many other asset managers have provided similar applications, betting that investors are looking behind Bitcoin and Ethereum for ETF exposure.
If S-1 has wiped organizational obstacles, AVAX ETF will become one of the first products listed in the United States to track a set of smart nodes outside the encryption specialties. This can indicate a shift in how to customize traditional financing for digital assets, as the infrastructure of the distinctive symbol has become part of the various encryption investment strategies.
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