Nasdaq Seeks SEC Approval for VanEck Avalanche ETF Amidst AVAX Price Volatility

On April 10, Nasdaq filed with the SEC to list shares of the VanEck Avalanche ETF, aiming to provide indirect exposure to AVAX. VanEck registered the crypto investment product as a trust corporate service company in Delaware on March 10. This move follows VanEck's previous filings for Bitcoin, Ether, and Solana ETFs. Grayscale Investments is also pursuing an AVAX-backed ETF, with Nasdaq applying to list it on March 28. Despite these developments, AVAX traded at $18 on April 10, a 56% decrease from its January high of $41.