Grayscale Investments is taking steps to list the Grayscale Avalanche Trust on Nasdaq, potentially opening access to AVAX for institutional investors and enhancing liquidity.
Grayscale Files for Listing
Grayscale Investments has filed an S-1 registration with the SEC to list the Grayscale Avalanche Trust on Nasdaq, expected to provide Wall Street access to AVAX by July 2025.
Partnership with BNY Mellon and Coinbase
In this process, Grayscale Investments acts as the sponsor, with BNY Mellon serving as the fund administrator and Coinbase as the digital asset custodian.
Avalanche TVL Reaches $2 Billion
On-chain data reveals that Avalanche's Total Value Locked (TVL) has reached $2 billion, indicating a positive market sentiment. Quote from Michael Sonnenshein, CEO of Grayscale Investments: 'As of now, there are no public comments regarding the S-1 filing for the Grayscale Avalanche Trust.'
The listing of the Grayscale Avalanche Trust on Nasdaq could enhance AVAX's accessibility and liquidity, which may encourage institutional investments and positively impact the market.
