Nasdaq Submits 19b-4 Form to SEC for AVAX ETF
Nasdaq has officially filed a 19b-4 form with the U.S. Securities and Exchange Commission to list and trade Grayscale’s proposed spot Avalanche ETF. The filing aims to convert Grayscale’s existing private Avalanche Trust into a publicly traded exchange-traded fund (ETF), offering institutional and retail investors access to AVAX without direct custody.
Structure and Partners
The Trust will hold only AVAX, Avalanche’s native token, and its value will be determined by a third-party index price. Coinbase is designated as the custodian, while BNY Mellon Asset Servicing is expected to act as administrator and transfer agent.
Grayscale’s filing follows VanEck’s similar ETF registration for Avalanche, underscoring rising institutional interest in Layer 1 blockchains beyond Bitcoin and Ethereum.
Avalanche’s Role in Crypto Infrastructure
Avalanche is a scalable, high-speed blockchain platform made up of three interoperable chains: X-Chain for asset transfers, C-Chain for Ethereum-compatible smart contracts, and P-Chain for validator coordination and subnet management.
Despite growing interest, AVAX has recently dropped by 9%, trading around $20.37 at the time of writing.
ETF Momentum Grows Under Trump Administration
Since President Trump’s re-election, the SEC has seen a wave of new crypto ETF applications from major players like Fidelity, Franklin Templeton, Bitwise, and 21Shares. These applications now extend beyond Bitcoin and Ethereum to include Solana, Ripple, Cardano, Dogecoin, and Litecoin.
The SEC’s current leadership, featuring crypto-friendly figures like acting Chair Paul Atkins and Commissioner Hester Peirce, has marked a major departure from the enforcement-heavy approach of former Chair Gary Gensler.
