Nasdaq submitted a 19b-4 filing with the U.S. Securities and Exchange Commission (SEC) to approve the listing of a spot Avalanche exchange-traded fund (ETF) managed by Grayscale.
Grayscale already manages an Avalanche Trust that carries a 2.5% management fee. The filing could lead to a cheaper, more flexible investment vehicle with exposure to the AVAX token, and reflects an industry trend toward developing regulated vehicles for altcoin trading. The SEC, however, has yet to approve any spot altcoin ETFs beyond those offering exposure to ether (ETH).
STORY CONTINUES BELOW
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