Grayscale Seeks SEC Nod for Spot Avalanche ETF Listing on Nasdaq

Grayscale has taken steps to expand its crypto ETF offerings, with Nasdaq filing a 19b-4 application to the U.S. Securities and Exchange Commission (SEC) for a spot Avalanche (AVAX) exchange-traded fund.

The proposed ETF would directly hold AVAX and be custodied by Coinbase, allowing investors to gain regulated exposure to the token through standard brokerage accounts. It comes as part of Grayscale’s broader strategy to convert its crypto trusts into more accessible ETF products.

Grayscale already manages an Avalanche Trust with a 2.5% management fee. A spot ETF would potentially offer lower fees and greater liquidity, following a wider industry shift toward regulated altcoin investment vehicles. However, to date, the SEC has not approved any spot altcoin ETFs beyond those tied to ether (ETH).

AVAX was trading at $20.50 at the time of filing, down 6.6% over the previous 24 hours, amid broader weakness in the crypto market. The CoinDesk 20 Index dropped over 4% during the same period.

VanEck also recently filed to launch its own Avalanche ETF, while Grayscale filed for a Cardano (ADA) ETF last month.