VanEck files Avalanche ETF as AVAX drops 55% in 2025

VanEck, a global investment firm, has registered an Avalanche (CRYPTO:AVAX) exchange-traded fund (ETF) in Delaware, signaling potential plans for a spot AVAX ETF.

The filing, confirmed on March 10, marks VanEck's fourth standalone crypto ETF registration in the U.S., following Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), and Solana (CRYPTO:SOL).

This development comes amid a challenging market environment, with Avalanche’s token (AVAX) experiencing a 55% year-to-date decline.

The registration aligns with VanEck’s strategy to expand its regulated digital asset offerings.

The firm has been a pioneer in crypto ETFs, having launched its Bitcoin ETF in 2024 and filing for a Solana ETF later that year.

The Avalanche ETF aims to attract institutional investors by providing exposure to AVAX within a regulated framework.

Avalanche, developed by Ava Labs in 2020, is a blockchain platform designed to rival Ethereum in speed and scalability.

Its native token AVAX was once among the top 10 cryptocurrencies by market capitalisation but has since dropped to the 20th position, with a current market cap of $7 billion.

Despite its recent price struggles, Avalanche continues to gain traction in tokenisation and financial applications.

VanEck's move reflects growing institutional interest in blockchain projects like Avalanche.

Major financial players such as JPMorgan and Mastercard have already integrated Avalanche into portfolio management and digital asset initiatives.

Additionally, BlackRock expanded its USD Institutional Digital Liquidity Fund to include Avalanche in late 2024.

While VanEck’s filing is the first standalone Avalanche ETF registration in the U.S., other firms are also exploring altcoin ETFs 

Grayscale recently proposed converting its multi-coin fund—including AVAX—into an ETF, and Nasdaq has filed for products like Litecoin (CRYPTO:LTC) and Hedera (CRYPTO:HBAR) ETFs.

At the time of reporting, the Avalanche (AVAX) price was $17.46.