Nasdaq has formally filed Type 19b-4 with the U.S. Securities and Trade Fee (SEC) in a transfer to listing and commerce shares of Grayscale’s Avalanche (AVAX) Belief.
Grayscale goals to transform its current belief product right into a publicly traded exchange-traded fund (ETF).
The proposed AVAX ETF is a part of a broader wave of crypto ETF filings as asset managers look to capitalize on the regulatory momentum following the approval of Bitcoin and Ethereum spot ETFs earlier this 12 months.
In accordance with official paperwork, Nasdaq has submitted Type 19b-4 to the US SEC to use for itemizing shares of Grayscale Avalanche Belief.https://t.co/bfLjTMu1Qj
— Wu Blockchain (@WuBlockchain) March 28, 2025
The submitting comes amid rising curiosity in AVAX, which ranks because the seventeenth largest cryptocurrency by market capitalization.
If accepted, this ETF would offer buyers with a regulated and accessible avenue to realize publicity to AVAX.
The submission follows VanEck’s latest S-1 submitting for the same AVAX-based funding product, indicating a aggressive race to introduce the primary AVAX ETF.
Grayscale’s transfer additionally aligns with its broader technique of increasing its portfolio of cryptocurrency ETFs, which already consists of pending functions for XRP, Solana (SOL), Litecoin (LTC), and Polkadot (DOT).
Rising Institutional Curiosity in Altcoin ETFs
Grayscale’s newest submitting is a part of a rising pattern of institutional curiosity in altcoin ETFs as asset managers search to diversify past Bitcoin and Ethereum.
The pattern has accelerated in response to altering regulatory dynamics and rising mainstream adoption of digital belongings.
The approval of spot Bitcoin ETFs earlier this 12 months set a precedent, encouraging corporations to pursue ETFs for different cryptocurrencies.
Grayscale’s submission of its AVAX ETF follows related filings for Hedera (HBAR), Polkadot (DOT), Cardano (ADA), and Dogecoin (DOGE).
Bloomberg ETF analyst Eric Balchunas predicts that Litecoin and Hedera have among the strongest approval odds amongst altcoin ETFs, given their progress with regulatory engagement.
Our official alt coin ETF approval odds are out. Litecoin leads w 90% probability, then Doge, adopted by Solana and XRP. We’re solely doing for 33 Act $IBIT-esque filings. However def poss to see futures or Cayman-subsidiary kind 40 Act stuff get via as properly. https://t.co/JSaNnifjbu
— Eric Balchunas (@EricBalchunas) February 10, 2025
The SEC’s cautious however evolving stance means that whereas fast approvals stay unsure, the rising wave of filings signifies a broader acceptance of crypto-based monetary merchandise.
Moreover, Nasdaq has been on the forefront of those developments, having filed a number of 19b-4 types for crypto ETFs.
Simply earlier this month, the New York Inventory Trade (NYSE) submitted a 19b-4 software for Bitwise’s Dogecoin ETF, additional intensifying the competitors amongst asset managers to safe a foothold within the increasing crypto ETF market.
SEC’s Stance and Market Implications
The SEC’s dealing with of those functions will probably be a key indicator of its evolving strategy to crypto regulation.
Whereas the company has traditionally been hesitant to approve spot cryptocurrency ETFs, latest shifts in political and regulatory sentiment counsel a extra favorable outlook.
The reelection of Donald Trump and his administration’s perceived crypto-friendly stance have spurred a wave of recent ETF filings as issuers anticipate a extra accommodating regulatory atmosphere.
The SEC’s acknowledgment of Nasdaq’s Hedera (HBAR) ETF proposal final week triggered a 21-day public remark interval, permitting trade stakeholders to voice their opinions earlier than a last resolution is made. An analogous course of is predicted for the AVAX ETF.
@SECGov acknowledges @Nasdaq submitting for @Grayscale's HBAR Belief ETF.#HBAR #Grayscale https://t.co/oMGVuXUWTW
— Cryptonews.com (@cryptonews) March 12, 2025
Within the broader market, the rising acceptance of altcoin ETFs might have important implications for institutional funding methods.
If accepted, these ETFs would supply buyers a extra accessible and controlled technique of gaining publicity to digital belongings, doubtlessly driving elevated liquidity and market stability.
Furthermore, the launch of altcoin ETFs might affect the SEC’s stance on different pending functions.
With corporations like VanEck, Franklin Templeton, and Bitwise actively pursuing ETFs for Solana, XRP, and Dogecoin, there’s excessive hope for approval.
Significantly, if Grayscale’s AVAX ETF secures approval, it might push for broader institutional adoption of Avalanche and related blockchain networks.
For now, the group awaits the SEC’s response, which can play an important function in deciding others’ fates.
The publish Nasdaq Recordsdata 19b-4 for Grayscale Avalanche (AVAX) ETF Itemizing appeared first on Cryptonews.