VanEck’s Avalanche ETF: A Risky Bet or a Brilliant Move? You Decide!

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What to know:

  • VanEck has registered an Avalanche ETF in the U.S. state of Delaware. A shocker, right?
  • The registration comes amid an ongoing sell-off in the crypto market, which has seen Avalanche’s native token (AVAX) fall to a one-year low of $16.27. No biggie.

VanEck, in a move that is both daring and slightly questionable (depending on who you ask), has decided to register an Avalanche exchange-traded fund (ETF) in Delaware. Yes, Delaware. The state that isn’t exactly known for its cutting-edge crypto innovations. But hey, why not?

The New York-based company, which clearly has some serious *chutzpah*, went ahead and registered the “VanEck Avalanche ETF” on March 10, as reported in the latest filing on Delaware’s Department of State website. You can’t make this stuff up!

This bold move comes at a rather “interesting” time. With the crypto market currently experiencing a downward spiral, the price of Avalanche’s native token (AVAX) has plummeted to a jaw-dropping one-year low of $16.27. Oh, the drama! 🙄

In case you were wondering, Avalanche is now officially the fourth crypto asset VanEck has registered an ETF for. Prior to this, they filed for a spot Solana fund back in June. For those of you who have been living under a rock, VanEck was also one of the first to issue bitcoin (BTC) and ether (ETH) ETFs when they were approved in January and July respectively. The courage is just… astounding.

But wait—there’s more! It seems like everyone is jumping on the altcoin ETF bandwagon these days. Rex Shares and Osprey Fund, in case you haven’t heard of them (no judgment), also filed to list a MOVE fund earlier this week. Apparently, the race for crypto dominance is in full swing. Or maybe it’s a race to see who can *lose* money the fastest? 🙃

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2025-03-11 14:30