Get Ready to Laugh: Nasdaq’s Wild Ride with VanEck’s Avalanche ETF!

Hold onto your hats, folks! The American stock exchange Nasdaq has thrown its hat into the crypto ring with an application to the U.S. Securities and Exchange Commission (SEC) for the VanEck Avalanche Trust. That’s right, they’re rolling out a proposed exchange-traded fund (ETF) designed to give you indirect exposure to the AVAX token without all that pesky crypto hassle! 😜

So, what’s this all about, you ask? Well, the filing, which looks like it was signed by Nasdaq’s big cheese, executive vice president and chief legal officer John Zecca (fancy title, huh?), is asking for permission to list and trade shares of the VanEck Avalanche ETF. It’s all under the company’s Rule 5711(d) – sounds like a secret code to me! 🤔

If they get the green light, the VanEck Avalanche ETF will let investors ride the price wave of Avalanche (AVAX) without ever having to touch the tokens. You can cash in on the performance without needing a crypto wallet or navigating those confusing digital asset trading platforms. It’s like surfing without the water! 🌊🤷‍♂️

According to the scoop, the asset management wizards at VanEck Digital Assets are sponsoring the trust. They’ll have a mysterious third-party custodian hoarding all the Avalanche tokens like they’re gold doubloons. Arrr! 🏴‍☠️

Buckle Up: VanEck Joins the Avalanche ETF Race! 🏎️

But wait, there’s more! This filing comes on the heels of VanEck’s quest to register a spot Avalanche ETF in the good ol’ US of A. Just a month ago, they decided to bust out their crypto investment product as a trust corporate service company in Delaware. Why Delaware? Because it’s cool like that! 😎

Believe it or not, this application marks VanEck’s fourth crypto ETF product – right alongside its superstar buddies Bitcoin (BTC), Ether (ETH), and Solana (SOL). In 2024, they even filed for a spot Solana ETF. They’re like the Kardashians of crypto ETFs – always in the spotlight! 💁‍♂️

And on March 14, VanEck made a social media splash with a formal application for the Avalanche ETF. Talk about commitment! It’s like a public marriage proposal, folks! 💍

Now, just when you thought this drama couldn’t get any juicier, Grayscale Investments is lurking in the background, also chasing an AVAX-backed ETF. Just a few days later, on March 28, Nasdaq applied to list Grayscale’s Avalanche ETF. It’s like a crypto soap opera! 🎭

But alas, while everyone’s busy dreaming of profits, the AVAX token took a nosedive in 2025, losing a whopping 56% from its January high of $41. Talk about a rollercoaster ride! 🎢 On April 10, AVAX was scraping by at $18. Life’s rough in the crypto jungle, folks. 🥴

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2025-04-10 16:50