VanEck Files for Avalanche ETF in Delaware Amid Crypto Market Declines
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VanEck Files for Avalanche ETF in Delaware Amid Crypto Market Declines

VanEck has officially registered the 'VanEck Avalanche ETF' in Delaware, marking a significant development amidst ongoing challenges in the crypto market.

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.
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