Oh, the audacity! Global investment titan, VanEck, amidst a crypto bloodbath, has registered an Avalanche exchange-traded fund (ETF) in the United States. Could this be the harbinger of a spot AVAX ETF, coming soon to a market near you? 🎉
On the fateful day of March 10, 2025, VanEck, with a bold stroke, registered a new crypto investment product known as VanEck Avalanche ETF in Delaware. The records, as solemnly kept on the official Delaware state website, bear witness to this act. 💼
Just like its siblings in the crypto ETF family, this potential new addition was registered as a trust corporate service company in Delaware, under the filing number 10125689. 📋
Amidst a crypto apocalypse, where Avalanche (AVAX) has plummeted 55% year-to-date, and Bitcoin (BTC) has taken a nosedive of around 17%, VanEck stands tall, filing for an ETF. 🤔
VanEck’s Crypto Quartet
With this filing, Avalanche joins the elite club of crypto assets to see a standalone ETF registration by VanEck in Delaware, following the footsteps of Bitcoin, Ether (ETH), and Solana (SOL). 🌟
VanEck, the pioneer in spot Bitcoin ETFs in the US, has been a major player in the crypto ETF arena since 2017, when they were the first to file for a futures Bitcoin ETF. 💪
Launched in 2020 by Emin Gün Sirer’s Ava Labs, Avalanche has become a force to reckon with in the crypto world, boasting a market cap of $7 billion at the time of writing. 🚀
VanEck’s XRP Snub?
Some in the crypto community have raised eyebrows at VanEck’s decision to file for an AVAX ETF before considering an XRP (XRP) ETF. Could there be a mastermind behind this move? 🕵️♂️
VanEck’s Avalanche ETF registration appears to be the first of its kind in the US. Previously, Grayscale had filed with the SEC to convert its multi-coin fund, which included AVAX and four other crypto assets, into an ETF. 📜
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2025-03-11 12:38