VanEck files for AVAX ETF to offer direct exposure to Avalanche platform

From Cointelegraph

March 14, 2025 5:37:42 pm:

Global investment manager VanEck files for an Avalanche (AVAX) exchange-traded fund (ETF) with the SEC to offer direct exposure to the smart contract platform. The proposed fund will hold AVAX and value its shares based on the reported MarketVector Avalanche Benchmark Rate. Avalanche is the 16th largest crypto asset with a market cap of $7.7 billion.

The success of US Bitcoin ETFs and a pro-crypto administration in Washington lead to a surge in crypto fund applications at the SEC. Nine issuers file for an XRP ETF, with Franklin Templeton joining the race. Issuers also seek to list ETFs linked to Solana, Litecoin, and Dogecoin. Approval of altcoin ETFs expected later this year, attracting billions in inflows. JPMorgan predicts SOL and XRP products could attract the most institutional interest, with billions in net new assets expected in the first 12 months.

Read more at Cointelegraph.com

1. Bitcoin reaches new all-time high at $65,000, surpassing previous record set in April.

2. Ethereum price also surges to $2,500 as cryptocurrency market continues upward trend.

3. Dogecoin sees 20% increase in value following Elon Musk’s tweet about it becoming the official currency of Mars.

4. Overall cryptocurrency market cap hits $2.5 trillion, signaling growing mainstream adoption and investment.: VanEck files for AVAX ETF