VanEck Files to Launch an Avalanche (AVAX) ETF in the United States

Global investment company VanEck has made a major move in the cryptocurrency investment landscape by filing an exchange-traded fund (ETF) dedicated to Avalanche (AVAX)

Global investment company VanEck has made a significant move in the cryptocurrency investment landscape by filing for an exchange-traded fund (ETF) dedicated to Avalanche (AVAX) in the United States.

According to a filing with the U.S. Securities and Exchange Commission (SEC) on Friday, March 10, 2025, in Delaware, VanEck applied to become a trust corporate service company.

This filing, registration number 10125689, is part of a broader move by VanEck to expand its cryptocurrency investment products. Earlier this year, the company applied for an ETF focused on the blockchain platform Solana (SOL).

With this registration, Avalanche becomes the fourth cryptocurrency for which VanEck has submitted a stand-alone ETF in the U.S., following Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

In June 2024, VanEck filed for a spot Solana ETF with the SEC, positioning itself among the pioneers in offering such products.

Initiated in 2020 by Ava Labs under the leadership of Emin Gün Sirer, Avalanche is a scalable smart contracts and decentralized applications (dApps) platform, serving as a competitor to Ethereum. On coingecko, AVAX hit the top 10 market cap in 2021 but currently stands at 20th place with a $7 billion valuation.

The timing of VanEck’s filing comes during a difficult time for the crypto space. As reported by CoinGecko, AVAX has fallen 55% in 2025 and continues to decline, dropping around 5% over the past 24 hours to $16.78.

Moreover, VanEck’s choice to focus on an Avalanche ETF ahead of one for XRP has been a subject of discussion within the crypto community. Some had anticipated an XRP ETF to be filed first, and speculations have arisen as to what might be influencing VanEck’s strategic decisions.

In October 2024, Grayscale, a leading crypto investment company, applied to the SEC to convert its multi-coin fund—which includes AVAX and four other digital assets—into an ETF.

The filing for an ETF focused on individual digital assets such as Avalanche highlights the burgeoning nature of the cryptocurrency space. Should the SEC approve it, a spot AVAX ETF would attract institutional investors, thereby boosting liquidity and exposure for Avalanche.