Grayscale is making Avalanche exposure more accessible and profitable for investors. The firm filed a second amendment to its $AVAX ETF S-1 registration with the U.S. Securities and Exchange Commission (SEC), now allowing the fund to stake up to 70% of its AVAX holdings.
As such, the ETF could allow staking rewards to flow directly to investors, thus providing an attractive yield component for both traditional and crypto investors. It appears that there is ongoing communication regarding the latest filing from Grayscale with regulators, and this is an ultimatum in the case of the ETF.
As per the filing, Avalanche will convert its existing Avalanche Trust to a spot ETF that will trade under the ticker “GAVX” on Nasdaq, which aims to provide a more regulated avenue for investors to access AVAX more visibly and liquidly. Currently, shares trade over-the-counter (OTC) under AVAXFUN, which restricts participation in the wider market.
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