Vanek registers US avalanche ETFs

If approved, Vaneck could be the first issuer of Avalanche ETF Avalanche token Avax. Avax fell nearly 52% in annual value.

Investment company Vaneck has registered with funds (ETFs) traded on avalanche exchanges in the US despite declining market prices.

According to the Delaware State Department website, the New York-based company submitted its Vaneck Avalanche ETF to Delaware on March 10th.

The move from Vaneck suggests that the US Securities and Exchange Commission (SEC) could potentially file an S-1 form with the official Spot Avax ETF. The news of this is because the market price of avalanche avax tokens is falling.

CoinMarketCap data shows a decline from the start of the year is nearing 52%. It has been trading at $17.15, down about 10% over the past 24 hours. This is a slight rise from early morning deals valued above $15.

ETF Application

If approved, Vaneck could be one of the first to issue Avax ETFs. This also follows the Solana ETF submitted in June last year. We will be participating in Bitcoin and Ethereum ETF products that were approved by the SEC in January and July last year.

Vaneck is one of several issuers who have applied for various Altcoin ETFs in recent months. Last month, the Chicago Commission's Option Exchange (CBOE) launched the SPOT XRP ETF, submitting four separate filings on behalf of the publisher.

In January, NASDAQ submitted a 19B-4 form to the Canary Litecoin ETF. This was followed by the Hedera ETF at the end of February. Earlier this month, the NYSE ARCA submitted a 19B-4 form to list the Bitise DogeCoin ETF.