Grayscale Files AVAX Spot ETF Targeting March 2025 Nasdaq Listing

Grayscale Investments has taken a significant step in its ongoing expansion into the crypto space by filing a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch the Grayscale Avalanche Trust on Nasdaq [1]. The trust is designed to track the price performance of Avalanche’s native token, AVAX, offering investors a regulated and accessible means to gain exposure to the cryptocurrency without directly holding or managing the digital asset [2].

The proposed product will list on Nasdaq under the ticker symbol AVAX, subject to regulatory approval, and will function as a Delaware statutory trust, a common structure for ETF offerings [3]. This structure is intended to streamline compliance and regulatory oversight, making the product more familiar and approachable to traditional investors. The trust currently holds AVAX tokens and will issue fractional undivided beneficial interests in the form of shares, enabling broader participation in the Avalanche ecosystem [4].

Grayscale has enlisted Coinbase to play a critical role in supporting the trust. Coinbase Custody Trust Company has been appointed as the custodian, responsible for securely storing the AVAX tokens backing the trust. Meanwhile, Coinbase, Inc. will act as the prime broker, overseeing trade execution and market operations [5]. This collaboration underscores the growing institutional credibility of Avalanche and the broader crypto market, as well as the importance of trusted U.S.-based infrastructure providers in facilitating mainstream adoption.

The filing is part of Grayscale’s broader strategy to expand its crypto product offerings and bring more structured financial instruments into the traditional market. The firm has previously converted its Bitcoin and Ethereum trusts into spot ETFs, and the Avalanche Trust is the latest in this series [6]. The company has indicated a target listing date of March 2025, aligning with an accelerating pace of ETF development in the crypto space [7].

If approved, the Grayscale Avalanche Trust would represent a major milestone for Avalanche, offering increased visibility and institutional access to AVAX. The product is expected to lower barriers to entry for new capital, supporting long-term adoption and integration of Avalanche within both the crypto and traditional investment ecosystems [8]. The move also reflects a broader trend of increasing institutional interest in digital assets and a shift toward regulated, transparent financial products that align with conventional market standards [9].

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Source:

[1] Grayscale Files S-1 For Spot Avalanche ETF With Ticker ...(https://cointelegraph.com/news/grayscale-files-spot-avalanche-etf-ticker-avax)

[2] Grayscale Files for Avalanche Spot ETF Listing on Nasdaq (https://www.cryptotimes.io/2025/08/25/grayscale-files-for-avalanche-spot-etf-listing-on-nasdaq)

[3] S-1 (https://www.sec.gov/Archives/edgar/data/2035053/0000950170****1074/ck0002035053-20250823.htm)

[5] Grayscale Files AVAX ETF With Nasdaq Listing Targeted ...(https://www.ainvest.com/news/grayscale-files-avax-etf-nasdaq-listing-targeted-march-2025-2508/)

[6] Grayscale Moves to Convert Avalanche Trust Into Spot ETF (https://www.coindesk.com/markets/2025/08/25/grayscale-files-s-1-with-sec-to-convert-avalanche-trust-into-spot-etf-on-nasdaq)

[8] JUST IN: Grayscale Files for Spot Avalanche ETF as SEC ...(https://coinpedia.org/news/just-in-grayscale-files-for-spot-avalanche-etf-as-sec-review-begins/)