VanEck Registers Avalanche ETF in Delaware Amid Rising Demand for Altcoin Funds
VanEck has officially registered an Avalanche exchange-traded fund (ETF) in Delaware, further expanding its lineup of crypto investment products despite ongoing market challenges.
A filing on Delaware’s Department of State website confirms that the New York-based asset manager registered the “VanEck Avalanche ETF” on March 10. The move comes as Avalanche’s native token (AVAX) struggles, recently hitting a one-year low of $16.27 amid a broader market downturn.
This marks the fourth cryptocurrency ETF VanEck has pursued. The firm previously applied for a spot Solana ETF in June and was among the first to launch Bitcoin (BTC) and Ethereum (ETH) ETFs following their regulatory approvals in January and July, respectively.
With growing institutional interest in altcoin ETFs, more firms are entering the space. On Monday, investment managers Rex Shares and Osprey Fund filed to list a MOVE fund, highlighting the increasing competition in crypto-based financial products.
