Nasdaq Seeks SEC Nod for Avalanche ETF

Nasdaq Seeks Approval for Grayscale’s Spot Avalanche ETF

• Nasdaq filed Form 19b-4 with the SEC to list and trade shares of Grayscale’s spot Avalanche ETF.
• The ETF aims to provide exposure to AVAX, the native token of the Avalanche network.
• Grayscale plans to convert its existing trust product, launched in August 2023, into a publicly traded ETF.
• Avalanche ranks as the 17th largest cryptocurrency by market capitalization.
• AVAX has a current market capitalization of $8.4 billion.

Nasdaq has submitted a filing with the SEC seeking approval to list Grayscale’s spot Avalanche ETF, which would offer investors regulated exposure to AVAX. Despite this move, AVAX’s market capitalization remains at $8.4 billion without immediate price changes.