Asset manager VanEck has registered a trust for an Avalanche (AVAX) exchange-traded fund in Delaware. This move comes amid a burgeoning interest in crypto products as institutions adapt to a more favorable regulatory environment from the SEC. Other firms such as Rex Shares and Osprey Funds have also sought to launch their own crypto ETFs recently. Avalanche, which has a market cap of $7 billion, focuses on cheap and fast transactions through its three interoperable blockchains. Despite a broader market downturn and Avalanche’s recent drop in price, VanEck’s registration could allow it to be first to market, potentially capturing upside given the high demand for diverse crypto ETFs. VanEck previously filed for a Solana ETF and already offers spot Bitcoin and Ethereum ETFs, demonstrating their aggressive strategy in the evolving crypto asset space. The registration action, however, does not guarantee an immediate ETF application.

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