Bitwise，Avalanche ETF和SEC：持有什么？

深入了解Bitwise的雪崩ETF提案，SEC的立场以及对Avax和Crypto ETF的更广泛含义。

Bitwise, Avalanche ETF, and the SEC: What's the Holdup?

Bitwise，Avalanche ETF和SEC：持有什么？

The race for the first Avalanche (AVAX) ETF is heating up! Bitwise, along with VanEck and Grayscale, is vying for SEC approval, signaling a growing institutional interest in AVAX. But will the SEC give the green light?

第一个雪崩（Avax）ETF的比赛正在加热！与Vaneck和Grayscale一起，Bitwise正在争夺SEC批准，这表明对Avax的机构兴趣不断增长。但是，SEC会给绿灯吗？

The Avalanche ETF Rush

雪崩ETF匆忙

Bitwise threw its hat into the ring, joining VanEck and Grayscale in the quest for an Avalanche ETF. This move underscores a significant trend: increased institutional interest in providing regulated access to AVAX. Bitwise proposes a spot ETF, holding actual AVAX tokens with Coinbase Custody handling the custody. The ticker symbol is yet to be revealed, but the net asset value will track the CME CF Avalanche–Dollar Reference Rate.

Bitwise将其帽子扔进了戒指，加入Vaneck和Grayscale，以寻求雪崩ETF。这一举动强调了一个重大趋势：在提供受监管的avax访问方面的机构兴趣增加。 Bitwise提出了一个ETF，并用Coinbase Concandododododododododody处理了Coinbase的实际avax令牌。股票符号尚未显示，但净资产价值将跟踪CME CF雪崩 - 毛额参考率。

Grayscale, not to be left out, wants to convert its existing Avalanche Trust into a spot AVAX ETF. Their proposal involves listing on Nasdaq, with Coinbase Custody as custodian and BNY Mellon as administrator.

不容忽视的灰度，希望将其现有的雪崩信任转换为Avax ETF。他们的建议涉及在纳斯达克上市，Coinbase监护权作为托管人，而BNY Mellon担任管理员。

SEC's Stance: A Waiting Game

SEC的立场：等待游戏

The SEC is taking its time. While Grayscale filed back in August 2025, the SEC initially extended its review period to July 15, 2025, without a final decision. This cautious approach isn't surprising, given the SEC's general hesitancy towards crypto ETFs beyond Bitcoin and Ethereum.

SEC花时间。当Grayscale于2025年8月提起诉讼时，SEC最初将其审核期延长至2025年7月15日，没有最终决定。考虑到SEC对比特币和以太坊以外的加密ETF的一般犹豫，这种谨慎的方法并不奇怪。

Why an Avalanche ETF Matters

为什么雪崩ETF很重要

An approved Avalanche ETF could be a game-changer for AVAX. It would provide easier access for both retail and institutional investors who prefer the safety and convenience of traditional brokerage accounts. No more dealing with wallets and private keys! This increased accessibility could drive liquidity and boost Avalanche's visibility in the market.

批准的雪崩ETF可能是Avax的游戏规则改变者。对于喜欢传统经纪帐户的安全性和便利性的零售和机构投资者，它将更容易获得。不再处理钱包和私钥！这种提高的可访问性可以推动流动性，并提高雪崩在市场上的知名度。

Bitwise's Other ETF Endeavors: Dogecoin in the Spotlight

Bitwise的其他ETF努力：Dogecoin在聚光灯下

Interestingly, Bitwise isn't just focused on Avalanche. They're also in the running for a Dogecoin ETF. The SEC has set a decision date of November 12, 2025, for NYSE Arca’s plan to list the Bitwise Dogecoin ETF. This shows Bitwise's commitment to offering diverse crypto investment options.

有趣的是，Bitwise不仅专注于雪崩。他们也在跑步去狗狗ETF。 SEC已将决定日期设定为2025年11月12日，旨在纽约证券交易所（NYSE ARCA）列出位于Dogecoin ETF的计划。这表明了Bitwise对提供多样化的加密投资选择的承诺。

My Two Satoshis

我的两个satoshis

While the SEC's approval is never guaranteed, the growing number of applications for AVAX and other crypto ETFs suggests a shift in the regulatory landscape. The SEC may be warming up to the idea of offering investors more regulated pathways to access the crypto market. The key will be demonstrating robust custody solutions and investor protection measures. For example, Coinbase Custody, regulated under New York banking law, will safeguard tokens in segregated accounts with cold storage protection.

尽管SEC的批准从未得到保证，但对Avax和其他加密ETF的申请越来越多，这表明监管景观发生了变化。 SEC可能会为提供更受监管的途径进入加密市场的想法而热身。关键将展示强大的监护权解决方案和投资者保护措施。例如，根据纽约银行法规定的Coinbase监护权将在具有冷藏保护的隔离帐户中保护令牌。

The Bottom Line

底线

The race for an Avalanche ETF is on, and Bitwise is a key player. Keep an eye on the SEC's decisions in the coming months. Whether it's AVAX, DOGE, or another crypto asset, the ETF landscape is about to get a whole lot more interesting. In the meantime, HODL on tight and enjoy the ride!

雪崩ETF的比赛已经开始，Bitwise是关键人物。在接下来的几个月中，请密切关注SEC的决定。无论是Avax，Doge还是其他加密资产，ETF景观都将变得更加有趣。同时，霍德（Hodl）紧紧欣赏旅程！