VanEck’s Avalanche ETF: Is This the Next Big Thing or Just Another Crypto Fad?

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Well, well, well! It seems that investment manager VanEck has decided to dip its toes into the icy waters of cryptocurrency once again. This time, they’ve registered a trust company for an Avalanche (AVAX) exchange-traded fund (ETF) in the sunny state of Delaware. Because, you know, nothing says “trustworthy investment” quite like a company based in a state known for its tax benefits! 🏖️

In the midst of a crypto market that looks like it’s been through a blender, VanEck is boldly going where many have gone before—registering an AVAX ETF. It’s like watching someone try to sell ice to Eskimos while the temperature is plummeting. But hey, who are we to judge? 🤷‍♂️

VanEck Expands ETF Foray

According to a filing on Delaware’s Department of State website (which, let’s be honest, is probably the most exciting thing to happen there since the invention of the cheesesteak), the New York-based company has officially registered the “VanEck Avalanche ETF” on March 10. This marks their fourth crypto asset ETF filing. They previously filed for a spot Solana fund in June 2024, and they were among the first to get the green light for bitcoin (BTC) and ether (ETH) ETFs back in January and July 2024. Talk about being ahead of the curve! Or maybe just ahead of the next big crash. 🚀

Now, before you start throwing your life savings at this new venture, let’s not get too carried away. Just because VanEck has registered a trust company doesn’t mean we’ll see an ETF application anytime soon. Their Solana fund registration was submitted back in November 2021, and we’re still waiting for that application to materialize. It’s like waiting for a bus that’s perpetually late—frustrating, but you can’t help but keep an eye out just in case! 🚌

ETF Filings Surge Under New SEC Leadership

In a twist that could only happen in the wild world of finance, ETF filings have surged since the US Securities and Exchange Commission (SEC) got a new Chairman under the Trump Administration. The SEC, which was previously led by the notoriously anti-crypto Gary Gensler, has suddenly decided to adopt a more crypto-friendly approach. It’s like watching a cat suddenly decide it loves water—completely unexpected! 🐱💦

This newfound crypto enthusiasm has sent institutions racing to offer new crypto products. We’re seeing filings for everything from the big players like Solana (SOL), Ripple (XRP), and Dogecoin (DOGE) to smaller assets that you’ve probably never heard of. Rex Shares and Osprey Funds are even trying to get in on the action with an ETF tracking the price of MOVE, the native token of the Movement Network. And let’s not forget Canary Capital, which has taken its first steps toward an ETF application tracking the price of Sui. Because why not? The more, the merrier! 🎉

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2025-03-20 10:00