VanEck has filed with the SEC to launch 'VanEck Avalanche ETF', potentially the first ETF linked to the AVAX token.
Filing for Avalanche ETF
VanEck is seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch the 'VanEck Avalanche ETF'. This follows the recent registration of the Avalanche ETF in Delaware.
High Odds of Approval
James Seyffart from Bloomberg Intelligence noted that while the VanEck Avalanche ETF had been discussed, this is its first official SEC filing. Bloomberg's analysts assigned a 90% chance of approval for a Litecoin-based ETF, while XRP and Solana have lower odds.
Positive Regulatory Shift
The approval of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July 2024 signals a shift toward openness in crypto investments. Recently, SEC reversed contentious crypto rules, ceased actions against major crypto players, and established a crypto task force.
VanEck's bid to launch an AVAX-linked ETF marks a significant step for the company and the crypto industry. The positive regulatory shift hints at expanding opportunities for crypto investments.
