- Grayscale seeks SEC approval to convert Avalanche Trust into Nasdaq-listed ETF.
- Coinbase Custody, BNY Mellon strengthen institutional-grade security and fund services.
- Filing underscores Grayscale’s broader crypto ETF expansion beyond Bitcoin and Ethereum.
Grayscale Investments has officially filed a registration statement with the US Securities and Exchange Commission (SEC) for a spot Avalanche (AVAX) exchange-traded fund. In the document submitted in the form of an S-1, the company will change its Avalanche Trust into exchange-traded funds that are publicly traded.
Grayscale Files S-1 Registration for Avalanche Exchange-Traded Fund
The filing aims to provide investors with direct exposure to the price performance of AVAX through traditional brokerage accounts.
The company confirmed that Nasdaq has already submitted a request to the SEC seeking approval to list the new fund. If approved, the trust will be renamed the Grayscale AVAX Trust ETF in connection with its market debut.
According to the filing, Coinbase Custody has been appointed to serve as the custodian of AVAX held within the trust. Coinbase, Inc. will act as the prime broker, handling core trading activities.
Meanwhile, BNY Mellon has been designated as the administrator and transfer agent for the fund. This structure mirrors the custodial and administrative setup of several other crypto investment products previously introduced by Grayscale.
The company underlined that this will offer institutional-grade security and governance of digital assets. Grayscale seeks to provide investors with exposure to AVAX through partnerships with renowned financial institutions so that the AVAX is available in a transparent and regulated format.
Grayscale Expands Broader Cryptocurrency Spot ETF Product Strategy
The latest filing represents another step in Grayscale’s broader push to expand its suite of cryptocurrency-based investment products. Earlier in 2025, the firm submitted applications for exchange-traded funds tied to XRP and Dogecoin (DOGE).
These alignments are evidence of the company working to ensure that investors can access more than just Bitcoin and Ethereum in relation to digital assets.
Grayscale initially launched its Avalanche Trust in August 2024, which incurs the power of investors interested in the AVAX ecosystem. Through the proposed ETF, the firm will shift its business model to the publicly traded vehicle. This would allow easier access for retail and institutional investors alike, enhancing liquidity and transparency.
Market analysts see the action as a step forward in the hot competition among asset managers in the United States to launch spot cryptocurrency ETFs. Although the approval is still awaiting scrutiny by the SEC, the filing is a sign of the growing popularity of crypto investment vehicles that are under regulatory oversight.
