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Investment manager VanEck registered a trust company for an Avalanche (AVAX) exchange-traded fund (ETF) in Delaware.
Asset manager VanEck has registered an AVAX ETF in Delaware amid the widespread sell-off in the crypto market.
VanEck Expands ETF Foray
Investment manager VanEck has registered a trust company for an Avalanche (AVAX) exchange-traded fund. According to a filing on Delaware’s Department of State website, the New York-headquartered company registered the “VanEck Avalanche ETF” on Monday, March 10. The Avalanche filing is the fourth crypto asset for which the company has filed an ETF. VanEck previously filed for a spot Solana fund in June 2024 and became one of the first issuers of bitcoin (BTC) and ether (ETH) ETFs after it secured approval in January and July 2024.
While the company’s registration may be bullish, it does not necessarily mean an ETF application is imminent. VanEck’s registration of a trust company for its Solana fund was submitted in November 2021, suggesting an application may only come a long way down the line.
ETF Filings Surge Under New SEC Leadership
ETF filings have surged since the US Securities and Exchange Commission received a new Chairman under the Trump Administration. The SEC, previously under the leadership of the infamously anti-crypto Gary Gensler, has adopted a more crypto-friendly regime after Donald Trump stepped back into the White House.
The SEC’s improved crypto stance has encouraged institutions in the US to rush to offer new crypto products. Filings covering larger assets such as Solana (SOL), Ripple (XRP), and Dogecoin (DOGE) to smaller assets have been noted in applications. Rex Shares and Osprey Funds submitted smaller asset filings for an ETF tracking the price of MOVE, the native token of the Movement Network. Canary Capital also recently took the first step towards an ETF application tracking the price of Sui.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
