Bitwise Registers Avalanche ETF in Delaware
- Bitwise Asset Management has registered a trust for a potential spot Avalanche (AVAX) ETF in Delaware.
- The “Bitwise Avalanche ETF” was officially registered on September 5.
- This move aims to expand Bitwise’s crypto investment products beyond Bitcoin and Ethereum.
- Avalanche, launched in 2020, is known for its fast settlement times and high transaction capacity.
- Avalanche ranks as the 23rd largest crypto asset by market capitalization, with AVAX currently priced at $24.
Trading Analysis
Trading Signal: NEUTRAL (Score: +2)
The registration of the Bitwise Avalanche ETF indicates potential growth but occurs amid a market sell-off.
Price Levels:
Current: $24
Support: Not specified | Resistance: Not specified
Recent Range: Not specified
Catalysts & Timeline:
• Near-term: SEC registration submission expected soon
Risk Assessment:
• Market sell-off could impact short-term price stability
The registration of the Bitwise Avalanche ETF marks an expansion of their crypto offerings beyond Bitcoin and Ethereum. Despite current market volatility, this move reflects growing interest in Avalanche’s blockchain capabilities.
Source (3.2)https://cryptobriefing.com/bitwise-avalanche-etf-registration/?rand=59535
