“The Company’s Latest Sec Filing Wuld Avalanche Trust to Trade As A Spot etf with Cash Redemptions.”, – WRITE: www.coindesk.com
If Approved, The Fund Weuld Trade on Nasdaq, Giving Traditional Investors Easier Access to the Avax Token Through A Regulated Vehicle.
The Move Marks the Second Regulatory Step in the Conversion Process, Following Grayscale’s Initial 19B-4 Filing in March. The Fund Wuld Allow Creations and Redemptions in Cash, Managed by Authorized Participants. Coinbase Wulde of the Prime Brokerage Services, Including Avax Custody and Trade Execution, While Bnesta Mellolon Act As Administrator and Transfer Agent.
Grayscale Launched ITS Avalanche Trust in August 2024 As Part of A Broader Expansion Into Altcoin-Focused Investment Products. The Fund Currently Manages Just Under $ 15 Million in Assets, With A Net Asset Value Per Share of 12.20%. That’s Down from A High of 27% in December, Reflection Both the Broader Crypto Market Downturn and Avax’s Price Slide.
Avalanche is a proof-of-Stake Layer 1 Blockchain Designed for Custom, Scalable Networks Called “Subnets.” TheSE Let Developers Create Application-SPECIFIC CHAWS While Maintening Compatibility with the Broader Avalanche Ecosystom. In Recent Months, Institute Interest in Avalanche Has Grown. Visa Integrated the Network Into Its Stablecoin Setlement System, and the Launch of the Avalanche Visa Card Allows USers to Spend Avax and Stablecoins Like USDC Directly.
Still, Avax Hasn’s escaped Market Headwinds. The Token Trades at $ 24.25, Down 9% Over The Past Year and 55% Off Its All-Time High of $ 54.11 in December.
Grayscale isn’t Alone in it Push for an avax etf. Vaneck and Several Other Asset Managers Have Also Field Similar Applications, Betting That Investors Are Looking Beyond Bitcoin and Ethereum for Etf Exposure.
If the S-1 Clears Regulatory Hurdles, The Avax etf would become One of the FIRST US-LISTED PRODUCTS TRACKING A SMART CONTRACT BLOCKCHAIN OUTSIDE The Crypto Majors. That Could Signal A Shift in How Traditional Finance Allocates to Digital Assets, with Token-Specify Infrastructure Plays Become Part of Diversified Crypto.
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The HOPED-FOR US-LISPANY WILL HOLD BNB AND INVEST IN THE BNB ECOSYSTEM.
- B Strategy is Forming A US-LISTED Company that Will Hold Bnb As A Treasury Asset and Invest in the Bnb Ecosystem.
- The Initiative Will Be Led By Former Bitmain Cfo Max Hua and the CO-FOUNDERS OF METALPHA.
- Binance Co-Funders Changpeng “cz” zhao and yi he are backing the Effort Through their investment FIRM YZI Labs.
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