The NASDAQ submitted a 19B-4 file to the Securities and Exchange Commission (SEC) of the United States to approve the list of a stock market fund (ETF) on the avalanche spot managed by Grayscale.
Grayscale already manages an avalanche trust which contains management fees of 2.5%. The deposit could lead to a cheaper and more flexible investment vehicle with exposure to the AVAX token, and reflects an industrial trend towards the development of vehicles regulated for Altcoin trading. The dry, however, has not yet approved the ETF Altcoin beyond those who offer an exposure to ether (ETH).
If it is approved, the Graycale Fund would offer another path to traditional investors to access cryptographic assets via conventional brokerage accounts. The ETF goalkeeper would be police custody, according to the deposit.
The ETF would hold AVAX directly, following the price of the native token market of the Avalanche network. The cryptocurrency is at the time of the editorial staff of $ 20.5 after losing 6.6% of its value in the last 24 hours in the middle of a wider market withdrawn which saw the wider index of Coindesk 20 (CD20) drop by more than 4%.
Other companies also envisage avalanche. Earlier this month, Vaneck has filed an S-1 form for an avalanche ETF.
Last month, Grayscale also asked for an ETF Cardano, which would become the company’s first investment vehicle in the company.
