Overview

VanEck has moved to register an Avalanche exchange-traded fund (ETF) in Delaware, despite the ongoing downturn in the cryptocurrency sector. The registration of the “VanEck Avalanche ETF” took place on March 10, as noted in a filing on Delaware’s Department of State website.

Key Points:

• The registration takes place amidst significant declines in the crypto market, with Avalanche’s token (AVAX) recently dropping to a one-year low of $16.27.
• This marks the fourth crypto asset ETF VanEck has filed for, following its prior applications for spot funds based on Solana, Bitcoin, and Ether.
• Other investment firms, such as Rex Shares and Osprey Fund, are also exploring opportunities in the altcoin ETF market.