Nasdaq has submitted a 19b-4 filing The US Securities and Exchange Commission (SEC) includes to approve the list of a fund -led area exchanged by the avalanche (ETF) exchange governed by Grayscale.
Grayscale is in charge of a Trust in avalanche It carries a 2.5% management fee. File can lead to a cheaper, more flexible investment vehicle with exposure to the Avax token, and reflects an industry trend towards the development of regulated vehicles for Altcoin trading. The SEC, however, has not yet approved any area of ALTCOIN ETFs beyond those who offer exposure to ether (ETH).
If approved, the Grayscale fund will offer another path for traditional investors to access crypto assets through conventional broker accounts. The ETF caregiver will be the custody of the Coinbase, according to his filing.
The ETF will hold AVAX directly, monitoring the market price of the Native token of the Avalanche Network. Cryptocurrency was at the time of trading writing at $ 20.5 after losing 6.6% of its value in the last 24 hours in the middle of a wider market drawdown detected CoinDesk 20’s wider index (CD20) drops more than 4%.
Other companies also look at the avalanche. Earlier this month, Vaneck has filed a form S-1 for an avalanche etf.
Last month, Grayscale Also filed for a Cardano ETFthat will be the first standalone vehicle of the company’s ADA investment.
