VANECK文件S-1注册声明与SEC的雪崩（Avax）交易所交易基金（ETF）

根据文件，Vaneck Avalanche ETF将直接持有Avax，并根据MarketVector Avalanche基准率对其股份进行评估

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

美国资产经理Vaneck已申请启动雪崩交易所交易基金（ETF），旨在为投资者直接接触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.

根据向美国证券交易委员会（SEC）提交的文件，Vaneck Avalanche ETF将持有Avax的单位，并根据MarketVector Avalanche基准利率对其股份进行估值。该速率是CCDATA的Exchange Benchmark报告确定的五个最大交易平台的中价报价的平均值。

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.

该文件是在Vaneck最近对特拉华州雪崩ETF的注册后，进一步表明该公司致力于扩大其加密投资产品阵容。

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

该公司尚未披露拟议ETF的股票符号。

Altcoin ETFs face approval chances

Altcoin ETF面临批准机会

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

这一举动是由于资产管理人员更广泛的努力引入与比特币和以太坊以外的加密货币相关的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.

由于SEC在一月份批准了现货比特币ETF，并且最近清除了基于以太坊的产品，因此公司一直在推出各种数字资产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分析师提供了不同altcoin ETF的批准概率估计。根据他们的分析，Litecoin面临90％的批准机会，而XRP和Solana的概率较低。

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.

雪崩以其在金融创新中的作用而闻名，例如富兰克林·邓普顿（Franklin Templeton）在雪崩网络上的标记基金。对于雪崩ETF的前景，这种机构兴趣可以很好地兆头。

Regulatory climate and implications

监管气候和含义

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

SEC历来谨慎地与Crypto ETF联系，理由是对市场操纵和投资者保护的担忧。

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，最近的监管态度转变，特别是在唐纳德·特朗普总统的政府和建立加密货币工作队期间，为更开放的数字资产产品态度奠定了基础。

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.

尽管SEC仍将如何应对Vaneck在Avalanche ETF中的应用，但此举可能为更广泛采用Altcoin ETF铺平道路。

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

如果获得批准，它可能会为其他基于区块链的投资工具打开大门，并有助于将加密货币整合到传统金融中。