Global investment manager VanEck has filed for an Avalanche exchange-traded fund (ETF) with the US Securities and Exchange Commission, aiming to provide investors direct exposure to the Avalanche blockchain's native token, AVAX. The application, shared by Bloomberg analyst James Seyffart, indicates that the proposed ETF intends to reflect the price performance of AVAX minus the Trust's operational expenses. The fund will hold AVAX and daily value its shares based on the MarketVector Avalanche Benchmark Rate. The filing highlights the growing interest in cryptocurrency investment products, particularly those that allow for direct asset exposure, amidst a broader trend in the crypto ETF market.

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