Nasdaq has submitted an application to the U.S. Securities and Exchange Commission to list the VanEck Avalanche ETF, which aims to provide indirect exposure to the AVAX token. The ETF would enable investors to track and profit from the price of Avalanche without having to hold the tokens directly, as it will hold the tokens on behalf of the investors through a custodian. This filing is part of VanEck’s ongoing efforts to create a spot Avalanche ETF, marking its fourth standalone crypto ETF application. VanEck is also applying for a Grayscale Investments AVAX-backed ETF that would convert a previously established AVAX fund. Despite interest in AVAX-based products, the token has experienced significant losses this year, trading at $18, 56% below its January peak of $41.

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