Grayscale Investments has filed an S-1 with the US SEC to launch the Grayscale Avalanche Trust as a publicly traded ETF.
Details of the ETF Filing
Grayscale has submitted an S-1 form to the SEC to convert its current Avalanche Trust into a publicly traded exchange-traded fund (ETF). The proposed ETF will hold Avalanche directly and track its market price, providing investors exposure through traditional brokerage accounts. Coinbase Custody will serve as custodian, while BNY Mellon will act as administrator and transfer agent. Nasdaq filed in March to list the shares, pending SEC approval of listing standards.
Current AVAX Performance and Forecasts
AVAX is currently trading at $24.15, showing a modest hourly gain of 0.21% despite a 3.57% daily decline. Over the week, AVAX remains positive at 1.87%, signaling resilience against short-term selling pressure. Analysts note that the token is consolidating within a symmetrical triangle, which often precedes a decisive breakout. Key support levels are identified at $24.00–$25.00.
Potential Market Implications
The ETF filing is viewed as a potential catalyst for strengthening Avalanche's position in the cryptocurrency market. Increased institutional access through regulated products may enhance liquidity and strengthen the long-term investment case for AVAX. If current levels are held, targets of $27.00, $32.50, $41.50, and potentially $54.00 could be opened.
Grayscale's application for the Avalanche Trust ETF could be a significant factor for institutional interest and support for AVAX prices, as investors continue to monitor market dynamics.
