VanEck registers Avalanche ETF in US as AVAX drops 55% year-to-date

Global concern steadfast VanEck registered an Avalanche exchange-traded money (ETF) successful the United States, hinting astatine a forthcoming filing for a spot AVAX ETF.

VanEck, connected March 10, registered a caller cryptocurrency concern merchandise called VanEck Avalanche ETF successful Delaware, according to nationalist records connected the authoritative Delaware authorities website.

Similar to different crypto ETF filings by VanEck, the imaginable caller merchandise nether filing fig 10125689 was registered arsenic a spot firm work institution successful Delaware.

VanEck Avalanche ETF registration successful Delaware. Source: Delaware.gov

The filing comes amid a large marketplace sell-off, with Avalanche (AVAX) dropping 55% year-to-date, portion Bitcoin (BTC) is down astir 17% successful 2025, according to CoinGecko.

Fourth standalone crypto ETF registration by VanEck

With the caller filing, Avalanche became the 4th crypto plus to spot a standalone ETF registration by VanEck successful Delaware, pursuing Bitcoin, Ether (ETH) and Solana (SOL).

As antecedently reported, VanEck filed for a spot Solana ETF with the Securities and Exchange Commission (SEC) successful June 2024, becoming 1 of the archetypal issuers to record for specified a product.

Source: Nate Geraci

VanEck —  among the first spot Bitcoin ETF issuers successful the US successful 2024 — has emerged arsenic 1 of the large ETF players successful the crypto market, known for being the archetypal ETF supplier to file for a futures Bitcoin ETF successful 2017.

An excerpt from VanEck’s travel with crypto since 2017. Source: VanEck

What different issuers person filed for an Avalanche ETF successful the US?

Launched successful 2020 by Emin Gün Sirer’s Ava Labs, Avalanche is simply a multichain astute declaration and decentralized app motorboat level that was created to rival the velocity and scalability of Ethereum.

Avalanche’s autochthonal inferior token AVAX made it to the top 10 largest crypto assets by marketplace capitalization successful 2021. At the clip of writing, the token is the 20th largest crypto plus with a marketplace headdress of $7 billion, according to CoinGecko.

Related: Bitwise files to database a spot Aptos ETF — the 36th largest cryptocurrency

Some crypto assemblage members highlighted that VanEck was moving guardant with a imaginable Avalanche ETF earlier registering an XRP (XRP) ETF.

In an X station reposted by VanEck integer plus probe caput Matthew Sigel, 1 commenter wrote:

“VanEck person filed an AVAX ETF earlier an XRP ETF. Come connected then, Matthew Sigel, who is your handler telling you not to record an XRP ETF?”

Source: Matthew Sigel

VanEck’s Avalanche ETF registration appears to beryllium the archetypal registration for the merchandise successful the US.

Previously, rival crypto ETF supplier Grayscale filed with the SEC to person its multi-coin fund, including AVAX and 4 different crypto assets, into an ETF successful October 2024.

Magazine: SEC’s U-turn connected crypto leaves cardinal questions unanswered