Grayscale Converts Avalanche Trust to ETF

Grayscale Applies to Convert Avalanche Trust into Spot ETF

• Grayscale Investments has filed with the SEC to convert its Avalanche-based trust into a spot ETF.
• The proposed ETF would hold crypto assets directly, unlike futures-based ETFs.
• Coinbase Custody will serve as custodian, and The Bank of New York Mellon will be the transfer agent.
• The conversion could broaden AVAX investment access beyond accredited investors.
• Regulatory approval is pending, with potential changes expected under new SEC leadership.

Grayscale Investments seeks to transform its Avalanche trust into a spot ETF, aiming for broader market access and direct asset holding. Coinbase Custody and The Bank of New York Mellon are key partners in this initiative.