Grayscale Investments is looking to convert their existing Avalanche (AVAX) based digital asset trust into a publicly-traded exchange traded fund (ETF). The fund tracks Avalanche’s (AVAX) price, operating as a passive investment product.
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Likewise, proposed AVAX ETF would track the altcoin’s price, while settling the redemptions in cash via the authorized participants. In this ETF pitch, Coinbase Prime is the chosen one to handle AVAX Spot-related brokerage & custody services.
Previously, Grayscale has successfully applied for Bitcoin (BTC) & Ether (ETH) ETFs, staying a key player in both markets. If approved, a Grayscale Avalanche ETF product would grant unprecedented exposure to AVAX for investors typically refraining from direct crypto investments.
AVAX Hits 1.7M Daily Transactions: What’s Driving It?
Trading at $24.04, Avalanche (AVAX) holds a hefty trading volume of nearly $1 billion in 24 hours, outpacing many higher-ranked peers like Aave (AAVE), Arbitrum (ARB), Uniswap (UNI) & more. This coincided with the yearly peak of 1.7 million transactions yesterday, hit on Avalanche’s C-Chain.
According to DappRadar, Uniswap’s V3 gained the biggest trading volume, topping $65 million on Monday. ODOS DeFi protocol & Trader Joe dApp cumulatively gained $40.76 million, sparking trading activity unprecedented on the C-Chain since February, 2024.
Despite the DeFi outburst, AVAX’s price slipped 7.4% since yesterday’s close as Sunday had seen some drastic liquidations, with some wiping out $250 billion in a matter of minutes. Regardless, AVAX price is still many minutes away from the all-time high of $144, hit almost 4 years ago, which screams unrealized potential if the trading volume on C-Chain persists.
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Grayscale files an S-1 with the SEC to transform its Avalanche Trust into a spot AVAX ETF, set to trade on Nasdaq under the ticker AVAX. With Coinbase Custody and BNY Mellon backing the fund, this move could slam open doors for mainstream investors if approved.
If the SEC greenlights the ETF, it’ll let investors buy AVAX via traditional brokers, potentially spiking demand and liquidity. Moreover, alongside Grayscale’s XRP and Dogecoin ETF filings, it could ignite a broader altcoin ETF frenzy, challenging Bitcoin’s dominance.
Grayscale builds on its $1.76M Avalanche Trust, launched in August 2024, and Nasdaq’s March 2025 19b-4 filing. However, the ETF needs SEC approval for both the S-1 and 19b-4, a process that could drag into October 2025 with no guaranteed launch.
AVAX hovers at $24-$25, down 4% to $24.10 post-filing, with resistance at $26. The ETF buzz could push it toward $30 if approved, but SEC delays or rejection might trap it in a $22-$26 range or worse, a drop to $21 support.
Watch AVAX’s $24 support & $26-$27 resistance, plus whale moves on X. Also, monitor the SEC’s 240-day 19b-4 review and rival filings like VanEck’s AVAX ETF, as approval could spark a rally or a delay could stall momentum.
