VanEck Files for Avalanche ETF in Delaware as Altcoin Investment Products Expand

Despite ongoing volatility in the crypto market, VanEck has moved forward with an altcoin-focused exchange-traded fund (ETF), registering an Avalanche ETF in Delaware.

A filing on Delaware’s Department of State website confirms that the New York-based asset manager registered the “VanEck Avalanche ETF” on March 10. The registration comes as Avalanche’s native token (AVAX) faces a steep decline, recently hitting a one-year low of $16.27.

With this move, Avalanche becomes the fourth cryptocurrency for which VanEck has sought an ETF. The firm previously filed for a spot Solana ETF in June and played a key role in launching Bitcoin (BTC) and Ethereum (ETH) ETFs following their approvals in January and July, respectively.

As competition heats up in the crypto ETF market, more issuers are exploring altcoin-based funds. On Monday, investment firms Rex Shares and Osprey Fund submitted filings for a MOVE fund, signaling continued investor interest in alternative digital assets.