VanEck Files for Avalanche ETF, Aims to Track AVAX Performance

VanEck, a prominent global investment manager, has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) focused on Avalanche (AVAX). This move marks VanEck's first attempt at an AVAX-focused ETF, following a Trust filing just three days prior. The proposed ETF aims to track the MarketVector Avalanche Benchmark Rate, an index that aggregates AVAX pricing data from major cryptocurrency exchanges. This benchmark rate will be used to value the shares of the ETF, providing investors with direct ownership of AVAX tokens without the need for derivatives.

The filing, which includes an S-1 registration statement, is a significant step in the evolution of cryptocurrency investment products. If approved, the Avalanche ETF would offer investors a straightforward way to gain exposure to AVAX, one of the leading blockchain platforms known for its high throughput and low transaction costs. The ETF's structure, which involves holding AVAX directly, aligns with the growing demand for transparent and accessible investment vehicles in the cryptocurrency space.

This development comes at a time when the cryptocurrency market is experiencing growth and increased institutional interest. The launch of an AVAX ETF could potentially attract more investors to the Avalanche ecosystem, further solidifying its position in the competitive landscape of blockchain technologies. The ETF's focus on direct token ownership is a notable feature, as it eliminates the complexities associated with derivatives and provides a more straightforward investment option.

The filing of the Avalanche ETF by VanEck underscores the firm's commitment to innovation in the financial sector. By offering an ETF that tracks the performance of AVAX, VanEck is providing investors with a new tool to diversify their portfolios and gain exposure to the rapidly evolving world of cryptocurrencies. The approval of this ETF by the SEC would be a significant milestone, not only for VanEck but also for the broader cryptocurrency industry, as it would pave the way for more mainstream adoption of digital assets.

Several financial institutions have applied to the SEC for the approval of new cryptocurrency ETFs. The SEC reviews proposals to establish ETFs that trace Solana, XRP, Dogecoin, and Litecoin. The SEC authorized spot Bitcoin ETFs when it approved them in January 2024 and spot Ethereum ETFs in July 2025. Avalanche (AVAX) maintains a market value of $7.6 billion, which positions it as one of the top twenty cryptocurrencies in mid-March 2025. The successful implementation of this ETF has the potential to draw additional institutional funding for AVAX. Layer-one blockchain platform Avalanche can gain greater institutional systemic support, which would boost its ecosystem thanks to its smart contract capabilities.

The SEC requires 45–90 days to review all S-1 filings. The process for approving crypto-related applications takes a longer duration than traditional applications. The regulatory approval status of VanEck’s AVAX ETF has become a focal point for investors and analysts. VanEck intends to issue ETF shares through the issuance of “Baskets.” Only authorized participants can execute transactions by either cash or through in-kind transfers. The proposed ETF will have the ticker symbol “AVAX” but the firm has not yet revealed the exchange platform for public listing. The SEC must first approve the proposed U.S. Securities and Exchange Commission application.