This year, nearly 40 applications for Exchange-Traded Funds (ETFs) focusing on altcoins have been submitted for approval, reflecting the changing landscape of the SEC. AVAX is gaining special attention as ETF issuers seek to expand their presence in the crypto market.
Latest on AVAX
VanEck, which manages cryptocurrency ETFs, has filed an application for an AVAX ETF. This ETF is designed to track AVAX prices similarly to ETH ETFs. Due to the lower market capitalization, it might attract investors seeing potential in AVAX.
What Sets This ETF Apart?
What distinguishes this ETF is the absence of using Coinbase for cryptocurrency storage; AVAX tokens will be stored by Avalanche Custodian. The application highlights the network’s speed and low fee advantages, and its three-layer structure: X-Chain, C-Chain, and P-Chain. Staking is not mentioned in the application.
What is the S-1 Form?
The S-1 form is a registration statement and one of the initial steps toward an IPO. This document provides insights into the financial status, business model, and risk factors of the company or fund intending to go public.
The growing number of ETF applications reflecting interest in the AVAX cryptocurrency underlines the evolving dynamics of the crypto market.
