The Nasdaq continues its expansion in the Crypto universe by requesting the authorization of the dry to quote the ETF Avalanche de Grayscale. This demand is part of an increasing trend in institutionalization of digital assets, while the Crypto ETF market continues to expand in the United States.
Nasdaq asks the dry to approve the rating of the ETF avalanche
On March 27, the American Stock Exchange Nasdaq officially filed a request to the Securities and Exchange Commission (SEC) to obtain the authorization to rate the Stock Exchange (ETF) Avalanche in cash in Grayscale Investments.
This request Specifically aims to modify the rules to allow the rating of the Grayscale Avalanche Trust (AVAX), which would be a conversion of the Avox fixed capital fund launched by Grayscale in August 2024.
Currently, the Grayscale Avalanche Trust manages $ 1.76 million in assets. Its net asset value per share amounts to $ 10.86, corresponding to approximately 0.49 AVX per share (valued at 10.11 dollars according to Coinmarketcap). The fund therefore presents a premium of 7.4% compared to the value of its underlying assets.
Grayscale claims on his site that his ” products declared to the dry constitute a weight argument for a higher stock market rating when the American regulations will allow it ».
The company specifies that after conversion, ” The arbitration mechanism inherent in ETF would allow the product to better follow the value Assets it represents.
Grayscale diversifies its Crypto ETF offer
Grayscale currently offers 28 crypto products on its site, including 25 mono-active derivatives and three diversified. The company awaits not only the approval of Son ETF avalanche, but also that of other products such as the ETF Spot XRP, the ETF Spot Cardano, and the conversion of Litecoin Trust to ETF.
These initiatives are part of the continuity of the successful conversion of the closed funds Bitcoin and Ethereum de Grayscale into Etf Spot. In 2024, the company also launched the Grayscale Bitcoin Mini Trust and Grayscale Ether Mini Trust, versions reduced to their existing ETFs.
The Grayscale Bitcoin Trust (GBTC) has experienced significant outings, with more than $ 21 billion withdrawn since its launch on January 11, 2024. This product has the highest costs on the market at 1.5 % per year, while competitors practice rates between 0.15 % and 0.25 %.
For ETHEREUM ETHE, there is a similar situation with more competitive costs for new “mini trust” products.
Interest in Crypto ETF continues to grow. Vaneck recently filed his own request for an Avalanche ETF, joining the race for new Crypto investment products. With a market capitalization of $ 7.7 billion and a 16ᵉ place in the cryptocurrency ranking, Avalanche also attracts the attention of institutional investors.
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