VanEck has officially filed to launch a spot Avalanche (AVAX) exchange-traded fund (ETF), becoming one of the first asset managers to seek U.S. regulatory approval for an ETF tied to the Avalanche blockchain’s native token. The move marks a significant milestone in the mainstream adoption of altcoin-based financial products.
On April 10, 2025, Nasdaq submitted a Form 19b-4 to the U.S. Securities and Exchange Commission (SEC) on behalf of VanEck to list the VanEck Avalanche ETF. This follows an earlier S-1 registration filed in March, establishing the VanEck Avalanche Trust in Delaware.
Structure, Exposure, and Staking Opportunities
The proposed ETF is designed to offer investors indirect exposure to AVAX without the need to hold or manage the digital asset directly. Structured as a commodity-based trust, the ETF will be sponsored by VanEck Digital Assets. A third-party custodian will hold the AVAX tokens on behalf of the trust.
The fund will track the MarketVector Avalanche Benchmark Rate, which consolidates pricing data from major AVAX trading platforms. Additionally, the trust may participate in staking activities via approved providers, enabling it to earn staking rewards while still offering passive exposure to AVAX.
Regulatory Outlook and Industry Competition
VanEck’s application arrives amid a broader wave of interest in cryptocurrency ETFs. Grayscale Investments has also filed to convert its AVAX trust into an ETF, and applications for other altcoin-based ETFs—covering Solana, Dogecoin, Cardano, and Polkadot—are under SEC review.
If approved, the VanEck Avalanche ETF would be among the first spot ETFs in the U.S. focused on an altcoin other than Bitcoin or Ethereum. The SEC’s response to this application may signal a more open regulatory stance on altcoin-based financial instruments.
For institutional and retail investors alike, the VanEck Avalanche ETF promises a regulated pathway to access AVAX price exposure without the operational and security complexities of self-custody. However, investors will not possess direct AVAX ownership rights, meaning they will not be eligible for network airdrops or other token-specific benefits.
The SEC’s upcoming decision on the filing will be closely monitored by both the traditional finance sector and the crypto industry, as it could establish a new precedent for altcoin-focused ETFs in the U.S. market.
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