The global investment management giant Vaneck has submitted a new Avalanche (Avax) Exchange-Traded Fund (ETF) in the US.
Documents submitted This week the state of Delaware hints on the new possible ETF, which would probably be bound by the price of the Ethereum (ETH) Layer-1 rival.
Vaneck currently offers ETH and Bitcoin (BTC) ETFs and has requested a Solana (SOL) Exchange-Traded Fund, which still needs to be approved. Matthew Sigel, head of the research of the company of digital assets, said last summer that the SOL application was a bet on Donald Trump who won the presidency.
The investment giant also applies to launch an “Onchain Economy ETF” that will not invest in digital assets itself, but will focus on digital assets instruments, such as futures contracts and digital transformation companies.
Avax acts at $ 17.81 at the time of writing. The 20th ranking order Crypto-Activum per market capitalization has risen by more than 6.5% in the last 24 hours, but in the last seven days by more than 11%.
The US Securities and Exchange Commission (SEC) GreenLit the First Spot Market Bitcoin ETFs in January 2024, which means that billions of dollars at the top digital assets are brought to the best digital active by market capitalization. The supervisor then approved ETHEEUM ETFs for trade in July.
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