VanEck Registers Avalanche ETF in Delaware Amid Expanding Altcoin Fund Market
VanEck has officially registered an Avalanche exchange-traded fund (ETF) in Delaware, continuing the trend of investment managers pursuing altcoin-based financial products despite ongoing market volatility.
According to a filing on Delaware’s Department of State website, the New York-based firm registered the “VanEck Avalanche ETF” on March 10. This move comes as the broader crypto market faces a downturn, with Avalanche’s native token (AVAX) recently hitting a one-year low of $16.27.
Avalanche marks the fourth crypto asset for which VanEck has sought ETF approval. The firm previously filed for a spot Solana ETF in June and was among the early issuers of Bitcoin (BTC) and Ethereum (ETH) ETFs following their approvals in January and July, respectively.
With issuers exploring new opportunities in the altcoin market, other asset managers are following suit. On Monday, Rex Shares and Osprey Fund submitted filings to list a MOVE fund, signaling continued interest in expanding crypto investment offerings.
