VANECK文件S-1註冊聲明與SEC的雪崩（Avax）交易所交易基金（ETF）

根據文件，Vaneck Avalanche ETF將直接持有Avax，並根據MarketVector Avalanche基准率對其股份進行評估

US asset manager VanEck has filed to launch an Avalanche exchange-traded fund (ETF), aiming to provide investors with direct exposure to AVAX.

美國資產經理Vaneck已申請啟動雪崩交易所交易基金（ETF），旨在為投資者直接接觸Avax。

According to a filing with the US Securities and Exchange Commission (SEC), the VanEck Avalanche ETF will hold units of AVAX and value its shares based on the MarketVector Avalanche Benchmark Rate. This rate serves as an average of the mid-price quotes from the five largest trading platforms, determined by CCData’s exchange benchmark report.

根據向美國證券交易委員會（SEC）提交的文件，Vaneck Avalanche ETF將持有Avax的單位，並根據MarketVector Avalanche基準利率對其股份進行估值。該速率是CCDATA的Exchange Benchmark報告確定的五個最大交易平台的中價報價的平均值。

The filing follows VanEck’s recent registration of the Avalanche ETF in Delaware, further indicating the firm’s commitment to expanding its lineup of crypto investment products.

該文件是在Vaneck最近對特拉華州雪崩ETF的註冊後，進一步表明該公司致力於擴大其加密投資產品陣容。

The firm has yet to disclose the ticker symbol for the proposed ETF.

該公司尚未披露擬議ETF的股票符號。

Altcoin ETFs face approval chances

Altcoin ETF面臨批准機會

This move comes amid broader efforts by asset managers to introduce ETFs linked to cryptocurrencies beyond Bitcoin and Ethereum.

這一舉動是由於資產管理人員更廣泛的努力引入與比特幣和以太坊以外的加密貨幣相關的ETF。

Since the SEC approved spot Bitcoin ETFs in January and recently cleared Ethereum-based products, firms have been rolling out various digital asset ETFs.

由於SEC在一月份批准了現貨比特幣ETF，並且最近清除了基於以太坊的產品，因此公司一直在推出各種數字資產ETF。

Bloomberg ETF analysts have provided approval probability estimates for different altcoin ETFs. According to their analysis, Litecoin faces a 90% chance of approval, while XRP and Solana have lower probabilities.

彭博ETF分析師提供了不同altcoin ETF的批准概率估計。根據他們的分析，Litecoin面臨90％的批准機會，而XRP和Solana的概率較低。

Avalanche is known for its role in financial innovations, such as Franklin Templeton’s tokenized fund on the Avalanche network. This institutional interest could bode well for the prospects of the Avalanche ETF.

雪崩以其在金融創新中的作用而聞名，例如富蘭克林·鄧普頓（Franklin Templeton）在雪崩網絡上的標記基金。對於雪崩ETF的前景，這種機構興趣可以很好地兆頭。

Regulatory climate and implications

監管氣候和含義

The SEC has historically approached crypto ETFs with caution, citing concerns over market manipulation and investor protection.

SEC歷來謹慎地與Crypto ETF聯繫，理由是對市場操縱和投資者保護的擔憂。

However, recent shifts in regulatory attitudes, notably during President Donald Trump’s administration and the establishment of a Crypto Task Force, have set the stage for a more open-minded approach to digital asset products.

但是，最近的監管態度轉變，特別是在唐納德·特朗普總統的政府和建立加密貨幣工作隊期間，為更開放的數字資產產品態度奠定了基礎。

While it remains uncertain how the SEC will respond to VanEck’s application for the Avalanche ETF, the move could pave the way for broader adoption of altcoin ETFs.

儘管SEC仍將如何應對Vaneck在Avalanche ETF中的應用，但此舉可能為更廣泛採用Altcoin ETF鋪平道路。

If approved, it could open the door for additional blockchain-based investment vehicles and contribute to the integration of cryptocurrencies into traditional finance.

如果獲得批准，它可能會為其他基於區塊鏈的投資工具打開大門，並有助於將加密貨幣整合到傳統金融中。