VanEck has submitted a proposal to the US Securities and Exchange Commission for an Avalanche exchange-traded fund (ETF) that aims to track the performance of AVAX, the native token of the Avalanche network. The intention is to provide investors with direct exposure to the smart contract platform. A Bloomberg analyst shared details of the filing on March 14, indicating that the ETF will hold AVAX tokens and value its shares daily based on the MarketVector Avalanche Benchmark Rate, as stated in the fund's prospectus. This move aligns with increasing interest in cryptocurrency investment products, further expanding the range of options for investors in the rapidly evolving crypto landscape.

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