Categories: MarketsMenafn

VanEck Pushes for First AVAX ETF Amid Growing Institutional Demand

Asset management giant VanEck has officially filed with the U.S. Securities and Exchange Commission for the approval of an AVAX ETF. The filing, submitted on March 14, positions VanEck as the first firm to formally pursue an ETF based on Avalanche’s native token, AVAX.

VanEck’s registration of the VanEck Avalanche ETF follows a wave of increasing institutional interest in alternative cryptocurrencies beyond Bitcoin and Ethereum. The trust’s objective is to track the price performance of AVAX while deducting operational costs. This action is consistent with the overall pattern of established financial companies looking for opportunities in blockchain assets within a regulated framework.

The filing comes at a time when several asset managers, including Franklin Templeton, Bitwise, and Grayscale, are actively pursuing ETF approvals for altcoins like XRP, Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC). The SEC’s approval of spot Bitcoin ETFs in early 2024 and Ethereum ETFs in mid-2024 has fueled speculation that additional crypto-based ETFs could soon gain regulatory acceptance.

Under the previous SEC leadership, regulatory roadblocks hampered the approval of altcoin ETFs. However, the agency has recently dropped enforcement actions against major crypto firms and established a dedicated crypto task force.

Vaneck’s Avalanche ETF

VanEck’s move is not just about capitalizing on crypto’s institutionalization but also about positioning itself at the forefront of a growing sector. If approved, the AVAX ETF would provide investors with an easier and more regulated way to gain exposure to Avalanche without directly purchasing the token on exchanges.

Avalanche, a high-speed smart contract platform, has gained traction due to its scalability, low transaction fees, and interoperability features. With a total value locked exceeding $1.2 billion and growing adoption in decentralized finance and gaming applications, AVAX has established itself as a strong contender in the blockchain ecosystem. The introduction of an ETF would further solidify its institutional credibility.

As the SEC deliberates on VanEck’s proposal, market participants eagerly anticipate whether the agency’s evolving stance on digital assets will pave the way for a new era of altcoin ETFs.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Myco Announces Major Partnership with A47 News Network – A Game Changer for Web3 Streaming and Meme Culture

Dubai, UAE, 15th March 2025, ZEX PR WIRE, Myco, the leading Web3 video streaming platform…

12 hours ago

DeFi Analyst Says Hyperliquid’s $4 Million Loss is a “Reasonable Price to Pay”

A cryptocurrency whale has recently made a massive $200 million leveraged bet on the Hybrid…

1 day ago

Tokenized Treasuries Surge to $4.2B as Investors Seek Stability

The market for tokenized U.S. Treasuries has reached a new peak, surpassing $4.2 billion in…

2 days ago

Crypto Scene is Heating Up: Top Brands to Meet in Moscow at Blockchain Forum 2025

Dubai, UAE, 13th March 2025, ZEX PR WIRE, On April 23-24, Moscow will host the…

3 days ago

SEC Delays Decision on LTC, SOL, XRP, and DOGE ETF Applications

The U.S. Securities and Exchange Commission has delayed its decision on a series of proposed…

3 days ago

Pi Network’s 28% Surge Fuels Binance Listing Speculation

The native cryptocurrency of Pi Network, PI, surged 28% within 24 hours, reaching $1.73 as…

3 days ago