Gigant Giant Giant Giant Gigant from Digital Activa hopes to launch an Avalanche (Avax) Exchange-Traded Fund (ETF) in the US.
The Nasdaq -share market a proposal submitted This week at the US Securities and Exchange Commission (SEC) to name and trades shares of Grayscale Avalanche Trust, which would be fully linked to the price of the Native Asset of the Layer-1 project, Avax.
Grayscale is not the first financial giant to request an avalanche ETF. Documents submitted to the state of Delaware earlier this month suggests that Vaneck also hopes to launch a fund that is linked to the Rival Ethereum (ETH).
Coinbase guardianship will serve as a custodian for Grayscale’s Avalanche ETF if it has been approved. The Crypto Asset Manager also hopes to launch funds tied to Cardano (ADA), Solana (SOL), XRP and Hedera (HBar).
The SEC Greenlit The first spot market Bitcoin (BTC) ETFs in January 2024, which yields billions of dollars at the intake of the digital active of the market hairstyles. The supervisor then approved ETHEEUM ETFs for trade in July.
Two financial companies, Franklin Templeton and Hashdex, also launched joint BTC ETFs earlier this year.
Avax acts at $ 20.36 at the time of writing. The 17th ranking shield of crypto assets per market hood has fallen almost 8% in the last 24 hours.
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