The American stock exchange Nasdaq has recently taken a significant step by filing an application with the United States Securities and Exchange Commission (SEC) to list and trade shares of the VanEck Avalanche Trust. This proposed exchange-traded fund (ETF) aims to provide investors with indirect exposure to the AVAX token.
According to Nasdaq’s executive vice president and chief legal officer, John Zecca, the application seeks approval to trade shares of the VanEck Avalanche ETF under Rule 5711(d), which regulates the trading of commodity-based trust shares. If approved, this ETF would allow investors to gain exposure to the price of Avalanche (AVAX) without the necessity of directly holding the tokens.
The VanEck Avalanche ETF would effectively hold the tokens and track their price, thus enabling investors to benefit from the performance of the AVAX token without needing to navigate crypto wallets or digital asset trading platforms. This presents a streamlined approach for traditional investors to engage with the burgeoning cryptocurrency market.
VanEck Digital Assets will sponsor the trust, while a third-party custodian will manage the custody of the Avalanche tokens. This ensures that the trust operates under robust regulatory frameworks while providing security for the assets held.
Excerpt of Nasdaq’s Avalanche ETF listing application. Source: Nasdaq
Related: XRP ETF: Here are the funds awaiting SEC approval so far
VanEck Joins the Race for Avalanche ETFs
This filing marks a pivotal moment in VanEck’s ongoing efforts to establish a spot Avalanche ETF within the United States. As an asset manager, VanEck previously registered this crypto investment product as a trust corporate service company in Delaware on March 10.
The current application is the fourth standalone crypto ETF initiated by VanEck, which includes products related to Bitcoin (BTC), Ether (ETH), and Solana (SOL). In a notable move earlier this year, VanEck filed for a spot Solana ETF with the SEC, positioning itself as one of the first issuers to pursue an ETF centered around SOL.
On March 14, the formal application regarding the Avalanche ETF was publicly shared via social media, reinforcing VanEck’s commitment to this innovative investment vehicle.
Furthermore, Grayscale Investments is concurrently pursuing an AVAX-backed ETF, supported by a separate application submitted by Nasdaq to list Grayscale’s Avalanche ETF on March 28. This would be a conversion of a close-ended AVAX fund launched by Grayscale in August 2024.
Despite the burgeoning interest in exchange-traded products based on AVAX, it is essential to note that the token suffered significant losses in 2025 amid a widespread downturn in the crypto markets. As of April 10, AVAX was trading at $18, which represents a 56% decline from its January peak of $41.
This filing represents a unique opportunity for investors keen on engaging with the cryptocurrency ecosystem through regulated structures, and it will be intriguing to see how the SEC responds to these applications in the coming months.
