- VanEck has formally filed for an AVAX ETF, aiming to trace Avalanche’s worth actions whereas protecting operational prices.
- The SEC is warming as much as crypto ETFs, having already permitted Bitcoin and Ethereum, with Solana, XRP, and Dogecoin now in line.
- Latest SEC coverage shifts, together with dropping enforcement actions and launching a crypto activity drive, trace at a extra favorable crypto panorama.
VanEck is making strikes—massive ones. The asset administration large has formally submitted a submitting to the U.S. Securities and Change Fee (SEC), in search of approval for what could possibly be the first-ever Avalanche (AVAX) exchange-traded fund (ETF).
Dubbed the “VanEck Avalanche ETF,” the fund goals to trace AVAX’s worth actions, minus the operational prices. The registration assertion, filed on Friday, confirms the ETF was just lately registered in Delaware, a typical first step in getting listed.
A First for AVAX—However Not for Crypto ETFs
This submitting makes AVAX the most recent altcoin to try breaking into the regulated ETF area. Bloomberg Intelligence analyst James Seyffart famous on X (previously Twitter) that whereas the belief registration had been floating round, this was the primary official submission to the SEC.
VanEck isn’t alone—a number of corporations are gunning for crypto ETF approvals. The SEC, after lastly greenlighting spot Bitcoin ETFs in January 2024 and Ethereum ETFs in July, is now reviewing proposals for Solana (SOL), XRP, Dogecoin (DOGE), and Litecoin (LTC) ETFs.
SEC Shifts Gears—Crypto Will get a Hotter Reception
Below the present administration, the SEC has softened its stance on crypto. Over the previous few weeks alone, the company has:
- Rescinded restrictive accounting guidelines that when stifled crypto corporations.
- Dropped high-profile enforcement actions in opposition to main crypto gamers.
- Launched a crypto activity drive to refine laws.
- Issued a memecoin assertion, signaling a shift in method to rising digital belongings.
This sudden coverage shift is sending shockwaves by the business, elevating hypothesis that AVAX, together with different altcoins, would possibly even have a shot at ETF approval.
The large query? Will the SEC give Avalanche the inexperienced gentle—or will it stall like many ETFs earlier than? Time will inform.