VanEck, a global investment firm managing $113.8 billion in assets, is moving forward with plans to launch an Avalanche (AVAX) exchange-traded fund (ETF) after registering a trust in Delaware.
This marks a crucial step in the firm’s strategy to tap into the growing interest in digital assets, particularly in blockchain technologies like Avalanche, which is known for its high-speed transaction processing and support for decentralized applications.
The registration of this trust, filed on March 10, positions VanEck to potentially file for a spot AVAX ETF with the U.S. Securities and Exchange Commission (SEC) in the near future.
This will allow the company to formally outline the fund’s structure, strategy, and risks before moving forward with an official launch, pending SEC approval. If successful, the ETF could provide institutional investors with a regulated avenue to gain exposure to Avalanche.
The filing comes at a time when cryptocurrency ETFs are gaining traction in the financial world. Firms like Canary Capital and Bitwise are also pursuing similar initiatives with assets such as Sui (SUI) and Aptos (APT), reflecting an expanding appetite for cryptocurrencies beyond the mainstream offerings of Bitcoin and Ethereum.
Looing at alternative cryptocurrencies, the AI agent MIND of Pepe ($MIND) is gaining traction as it promises investors exclusive access to a self-sovereign AI agent that could transform the crypto market and provide deep trading insights.
MIND of Pepe can not only analyze community sentiment around the crypto market—it can jump into the discussion and actively change investors’ mindset and help them with their strategy.
$MIND is a relatively new project, that took the spotlight and raised millions in no time, aiming to be the next game changer
in the meme coin space.
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