VanEck Files for Avalanche ETF Registration in Delaware
VanEck has registered the "VanEck Avalanche ETF" in Delaware, targeting the altcoin market despite a downturn in crypto prices. Key points include:
- The registration occurred on March 10, according to Delaware's Department of State.
- Avalanche's native token (AVAX) has dropped to a one-year low of $16.27.
- This marks the fourth crypto asset for which VanEck has filed for an ETF, following its spot Solana fund filing last June.
- VanEck was among the first to issue ETFs for Bitcoin and Ethereum after their approvals in January and July.
- Other investment managers, such as Rex Shares and Osprey Fund, have also filed for new ETF products.