Major crypto investment firm Grayscale Investments has taken another step in its exchange-traded fund (ETF) expansion. The company filed an S-1 with the US Securities and Exchange Commission (SEC) on Friday to launch a spot Avalanche (AVAX) ETF.
According to the registration statement published on Monday, the new fund would convert the existing Avalanche Trust into a publicly traded ETF.
Direct Exposure to AVAX for Investors
The ETF will trade under the same ticker as Avalanche (AVAX). It is designed to let investors gain direct exposure to the cryptocurrency through standard brokerage accounts.
Coinbase Custody has been chosen to safeguard AVAX holdings, while BNY Mellon is expected to act as the fund’s administrator and transfer agent.
Nasdaq Filing and Planned Rebrand
The filing follows Nasdaq’s submission to the SEC in March 2025, which sought approval to list the Avalanche fund.
“In connection with the effectiveness of this registration statement and the listing of the Shares on the Nasdaq stock market, the sponsor intends to rename the Trust as Grayscale AVAX Trust ETF as described in this registration statement,” Grayscale noted in its filing.The move comes a year after Grayscale launched its Avalanche Trust in August 2024. It also adds to the company’s wider push into spot crypto ETFs. Earlier this year, Grayscale filed for ETFs linked to XRP and Dogecoin (DOGE).
