Grayscale filed a registration statement with the SEC to uplist the Grayscale Avalanche Trust, seeking conversion into a spot Avalanche ETF that would track AVAX’s market price, with custody handled by Coinbase and listing support from Nasdaq, per Grayscale’s SEC filing.
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Grayscale submitted an SEC registration to uplist its Avalanche Trust into an ETF.
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Nasdaq filed a 19b-4 on Grayscale’s behalf; Coinbase provides custody for the fund’s AVAX holdings.
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Avalanche is the 22nd largest crypto (~$10B market cap); DefiLlama reports ~ $2B in DeFi TVL on Avalanche.
Grayscale Avalanche Trust ETF filing advances with Nasdaq support; monitor SEC decisions—stay informed on AVAX ETF approval timelines. Read now.
What is the Grayscale Avalanche Trust uplist filing?
Grayscale Avalanche Trust is a registered investment vehicle that Grayscale submitted to the U.S. Securities and Exchange Commission to convert from a private trust into a spot Avalanche ETF. The filing requests approval to uplist shares for public trading on an exchange, supporting direct exposure to AVAX’s spot price.
How does the proposed Avalanche ETF work?
The proposed fund would track Avalanche’s spot price and hold AVAX tokens in custody. According to Grayscale’s SEC filing, Coinbase would safeguard the fund’s coins, while Nasdaq has taken procedural steps—filing a 19b-4 form on Grayscale’s behalf—to list shares on its exchange.
Why is this uplist important for Avalanche (AVAX)?
Converting the trust into a spot Avalanche ETF would broaden retail and institutional access to AVAX through traditional brokerage channels. ETF approval typically increases liquidity and can draw new capital into the underlying asset class.
What is the regulatory backdrop?
The SEC has reviewed multiple spot-crypto ETF applications. Nasdaq filed a 19b-4 form on Grayscale’s behalf in March. The Commission previously paused or extended reviews for other applicants such as VanEck. In July, the SEC approved a merit-neutral approach to certain crypto ETF applications, creating momentum for further decisions.
What do market indicators say about AVAX?
Avalanche ranks among larger cryptocurrencies by market capitalization. Crypto data provider CoinGecko lists AVAX around a $10 billion market cap, while DefiLlama reports nearly $2 billion locked in Avalanche DeFi platforms. AVAX recently traded near $24, down 7.6% over the prior day.
Are analysts optimistic about approval?
Industry analysts, including Bloomberg ETF analyst James Seyffart (plain text mention), have assigned high odds to approval scenarios for Avalanche and several altcoin ETF applications. Market observers expect a string of decisions following last year’s spot Bitcoin and Ethereum ETF debuts.
Frequently Asked Questions
Will the Grayscale Avalanche Trust be listed on Nasdaq?
Nasdaq filed a 19b-4 on Grayscale’s behalf earlier in the year, a procedural step toward listing, but final listing depends on SEC approval and any further exchange determinations.
How will custody be handled for the ETF?
Grayscale’s filing names Coinbase as custodian for the fund’s AVAX holdings, indicating established custody arrangements for the proposed ETF.
Key Takeaways
- Regulatory step forward: Grayscale submitted a registration to uplist the Avalanche Trust and seek ETF conversion.
- Custody and listing: Coinbase is named as custodian; Nasdaq filed a 19b-4 on Grayscale’s behalf.
- Market context: AVAX is a top-30 crypto by market cap with significant DeFi activity; analyst expectations tilt toward approvals later in the year.
Conclusion
The Grayscale registration for the Grayscale Avalanche Trust uplist marks a meaningful step toward a spot Avalanche ETF that would provide regulated, exchange-listed exposure to AVAX. Watch SEC filings, exchange notices, and custody confirmations for definitive updates. COINOTAG will report developments as they occur.
