VanEck Pursues Avalanche (AVAX) ETF, Legal Registration Complete

# VanEck Completes Initial Legal Steps for Avalanche (AVAX) ETF New York (Newsis) - Global investment management firm VanEck has completed the first legal step in launching its Avalanche (AVAX) ETF. According to reports on the 11th (local time), VanEck announced that it has filed an official registration for the Avalanche ETF in the state of Delaware. With $113.8 billion in assets under management (AUM), VanEck is a global investment firm. This ETF filing underscores the growing interest from institutional investors in digital assets. Following the completion of this registration, the U.S. Securities and Exchange Commission (SEC) will review the ETF application. The SEC may request additional information or modifications. Once final approval is granted, VanEck will be able to officially launch the Avalanche ETF and offer it to general investors. This move by VanEck aligns with the increasing institutional interest in cryptocurrency ETFs. Recently, Canary Capital applied for a Sui (SUI) ETF, and Bitwise is pursuing an Aptos (APT) ETF. These developments indicate that institutional investors are expanding their interest beyond Bitcoin (BTC) and Ethereum (ETH) to include altcoins. Avalanche (AVAX) is the native token of the Avalanche blockchain, used for network transaction fees, staking, network security, and governance. It currently has a market capitalization of $7.1 billion, ranking 20th among all cryptocurrencies.