VanEck has just filed a proposal with the US Securities and Exchange Commission (SEC) to launch an Avalanche ETF, with the goal of providing investors with direct exposure to the smart contracts platform.
On March 14, Bloomberg analyst James Seyffart shared a portion of the S-1 filing on social media, highlighting ongoing developments in the crypto ETF sector.
The proposed VanEck Avalanche ETF is designed to reflect the price performance of AVAX, the native token of the Avalanche network.
The fund plans to hold AVAX and "value its Shares daily based on the reported MarketVector Avalanche Benchmark Rate," the filing details.