Bitwise Asset Management has registered a trust for an Avalanche ETF in Delaware, marking an important step in the ETF registration process in the U.S.
Bitwise's ETF Trust Registration
Bitwise Asset Management has registered a trust for its Avalanche ETF in Delaware. This move may indicate an expanding interest in crypto ETFs and highlights the company's approach to financial instrument development. However, there are no guarantees of SEC approval or immediate market impact.
Current Avalanche (AVAX) Metrics
According to CoinMarketCap, Avalanche (AVAX) is currently trading at $24.32 with a market cap of $10.27 billion. The token experienced a 24-hour decrease of 1.20%, but has risen by 2.99% over the past week. In the last 90 days, AVAX has gained 17.09%, indicating positive momentum.
Possible Implications for the AVAX Market
Experts suggest that regulatory approval for an Avalanche ETF could significantly increase interest and value of AVAX. Successful completion of this ETF may also lead to broader inclusion of cryptocurrencies in U.S. financial markets.
The registration of the Avalanche ETF trust by Bitwise is a crucial step that may influence the AVAX market if approved by the SEC. This process could be a key factor for the future of crypto ETFs in U.S. financial markets.
