Grayscale Files S-1 for Avalanche ETF with Nasdaq Listing
Grayscale Investments has filed an S-1 with the U.S. SEC to launch an Avalanche ETF, tracking the performance of AVAX. Coinbase will act as the prime broker and custodian.
Grayscale Plans to Rebrand Avalanche Trust Into ETF
The Grayscale Avalanche Trust will be renamed to Grayscale AVAX Trust ETF upon SEC approval. NASDAQ has filed for listing shares under Rule 19b-4.
Key points from the filing include:
- Renaming the Trust to Grayscale AVAX Trust ETF.
- No share offering until SEC approval is granted.
- Timeline for approval remains uncertain.
Current Status of AVAX Price
AVAX is trading around $25.60, down 3% and below critical resistance at $25.00. Analysts suggest potential for a breakout into the mid-$30 range.
Additional insights include:
- AVAX maintains support around $20.30.
- Resistance is noted between $27 and $28.
- A breakout above $28 could lead to prices between $32 and $35.
- A rejection may pull back to $20.30 support.