The Nasdaq presented
A new filing with the U.S. Securities and Exchange Commission (SEC) to list the VanEck Avalanche Trust, an exchange-traded fund (ETF) that seeks to provide investors with indirect exposure to Avalanche’s native token, AVAX. The fund will be structured to reflect the market price of AVAX, with the underlying assets held in custody by a dedicated third party. The ETF would trade under Rule 5711(d), which applies to commodity-linked trust funds.
Nasdaq’s move comes as Avalanche is gaining more attention for its three-chain architecture — X-Chain, C-Chain, and P-Chain — which stands out for offering scalability, transaction speed, and flexibility for decentralized applications. The network has been gaining ground among DeFi projects, NFTs, and Web3 solutions, solidifying its presence as a relevant alternative in the cryptocurrency market.
VanEck, which already operates ETFs based on Bitcoin, Ethereum and, more recently, Solana, sees Avalanche as a natural continuation of its strategy to expand into the crypto sector. The initiative is in line with the growing institutional interest in regulated financial instruments that mirror the performance of specific tokens, without the need for investors to directly manage digital wallets or private keys.
XRP, ADA, SOL and other ETF dates
In parallel, the SEC updated the timeline for decisions on a number of upcoming crypto ETFs. The new dates indicate that the review of the VanEck Spot Solana ETF is scheduled until May 19, 2025, while the Canary Spot Litecoin ETF will be evaluated by May 13. Other funds under review include Canary Spot Solana ETF (also with a decision expected by May 19), the Canary Spot XRP ETF and Grayscale Spot XRP ETF, both with a deadline of May 22, and the Grayscale Spot Dogecoin ETF, with a decision scheduled for May 21st. Finally, the Canary Spot ADA ETF must have its opinion published by May 29, 2025.
These extensions give the SEC more time to evaluate the proposed regulatory changes. Still, Bloomberg analysts James Seyffart and Eric Balchunas say the chances of approval remain high, with final decisions expected by October 2025.