The US Stock Exchange NASDAQ has submitted a filing with the US Securities and Exchange Commission (SEC) requesting permission to list the spot investments’ spot Avalanche Exchange-Traded Fund (ETF).
The document, Filed On March 27, asking for a change in the rule to list the Grayscale Avalanche Trust (AVAX). The derivative product in question would be a converting of closely Avax fund of Grayscale Investments Launched in August 2024.
Grayscale Says On its website “These SEC-report products show a strong case for the uprising when the US regulation environment permits.” The firm explained that, following the conversion, “the arbitration mechanism inherent in ETFs will help the product closer to monitor the value” of the owners.
At the time of publication, the Grayscale Avalanche Trust holds $ 1.76 million worth of possessions under management. The current net asset value per component is $ 10.86 for more than 0.49 AVAX per part, worth $ 10.11 according to CoinMarketCap Dataputting the current price market price to a 7.4% premium on the value of its underlying owners.
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Grayscale expands crypto ETF offerings
Grayscale website Lists 28 crypto products, of which 25 are single-asset derivatives and three are varied. The firm is among the current Waiting for approved XRP spot ETFAs well as other products.
The other examples include the Spot cardano etf filing And this Litecoin Trust Conversion to an ETF. These filings also follow the company Its successful converting ether and bitcoin Close funds in ETF areas.
In 2024, Grayscale investments also Conversion was announced of a portion of Bitcoin and Ethereum ETFS in spinoff products. The new Grayscale Bitcoin Mini Trust (BTC) and Grayscale Ether Mini Trust (ETH) feature lower fees and follow their derivatives, losing capital with more cost options.
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United States bitcoin ETF assets under product management. Source: Macromicro
The data reported by the end of 2024 shows that More than $ 21 billion has been withdrawn From the Grayscale Bitcoin Trust (GBTC) since its launch on January 11, 2024. It has made a single US-based Bitcoin ETF with a negative investment flow at that time.
The offer of this product has the highest management fees on all products, set at 1.5% per year. Other ETFs range from 0.15% for the Grayscale Bitcoin Mini Trust to 0.25% for the highest price competitors.
The situation, looking at the Ethereum ETFS, is very similar, with the lowest fee of the Grayscale Ether Mini Trust and the highest older Ethereum trust product. Competing offerings do not charge more than 0.25%.
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