Nasdaq has formally submitted a proposal to the U.S. Securities and Exchange Commission (SEC) to list and trade shares of the VanEck Avalanche Trust—an exchange-traded fund (ETF) offering indirect exposure to the Avalanche (AVAX) token.
According to the filing signed by Nasdaq’s Executive VP and Chief Legal Officer John Zecca, the ETF would be listed under Rule 5711(d), which governs commodity-based trust shares. If approved, the ETF would enable investors to gain price exposure to AVAX without directly owning or handling the token.
How the VanEck Avalanche ETF Would Work
The VanEck Avalanche Trust aims to mirror the price of AVAX by holding the tokens in custody through a third-party provider. The trust would be sponsored by VanEck Digital Assets, which would oversee the fund’s operations while ensuring secure token storage through the appointed custodian.
By providing a simplified investment route, the ETF is designed for investors who want to tap into AVAX price movements without using crypto wallets or digital asset exchanges.
Part of a Broader Crypto ETF Strategy by VanEck
This is VanEck’s fourth standalone crypto ETF proposal, joining its earlier filings for Bitcoin, Ether, and Solana ETFs. The firm made headlines in 2024 as one of the first to file for a spot Solana ETF.
VanEck’s intent to launch an Avalanche ETF became clearer on March 10, when the firm registered the trust as a corporate entity in Delaware. Just four days later, the official application was shared on social media, underlining the asset manager’s push for wider crypto exposure.
Grayscale Joins the Race for an Avalanche ETF
VanEck isn’t the only player eyeing the AVAX ETF space. Grayscale Investments is also seeking SEC approval for its own Avalanche ETF. On March 28, Nasdaq filed on Grayscale’s behalf to list the product, which is a conversion of a closed-end AVAX fund launched in August 2024.
AVAX Price Struggles Amid Growing ETF Interest
Despite growing institutional interest in Avalanche-based financial products, AVAX itself has faced sharp declines in 2025. As of April 10, AVAX is trading at $18—down 56% from its January peak of $41. The downturn reflects broader market weakness across the crypto sector.
Still, the push for AVAX ETFs signals strong belief in the long-term relevance of Avalanche as a blockchain network, even as short-term price volatility persists.
