On September 16, Avalanche (AVAX) recorded a price surge, continuing its ascendant trajectory that debuted the day before. AVAX’s price rally is fueled by the latest news revealing that Bitwise submitted an S-1 filing with the US SEC to establish an AVAX ETF.
Bitwise is the world’s largest crypto index fund manager, founded in 2017.
AVAX Price Surges on September 16
At the moment of writing this article, AVAX is trading above $30.5 with a market cap of more than $12.9 billion, up by more than 7% in the past 24 hours.
AVAX‘s price surge follows another spike of over 3% recorded on September 15.
On that day, Bitwise reportedly filed for an AVAX ETF with the US SEC.
Bitwise Submitted an S-1 Form for AVAX ETF
According to official reports, if the US SEC gives its green light for the crypto product, the custodian would be Coinbase. Avalanche’s trust would enable investors to access AVAX via a traditional brokerage account without potential barriers to entry ot risks associated with the direct acquisition of the token.
The fund would establish its NAV (net asset value) using the CME CF Avalanche-Dollar Reference Rate, and it would hold AVAX tokens and not use derivatives.
Before the S-1 filing, Bitwise registered as Avalanche Trust in Delaware – a step that usually represents the first move towards plans to launch an ETF.
Latest Avalanche Plans and Achievements
Apart from a potential new AVAX ETF, Avalanche reportedly plans to raise $1 billion to establish AVAX treasuries in the US, according to sources cited by Financial Times recently.
Also, on September 12, the team behind Avalanche revealed via X that the project has added two DeFi giants – Ethena and Pendle.
sUSDe from Ethena went live on Avalanche, and together with Pendle, it unlocks fixed and variable yield markets on the blockchain’s kiw fee, sub-second rails.
Avalanche adds two giants to DeFi 🔺
sUSDe from @ethena_labs is live, a scalable reward-bearing stable asset.
Together with @pendle_fi it unlocks fixed and variable yield markets on Avalanche’s low fee, sub second rails. pic.twitter.com/WQ9ARWOcql
— Avalanche🔺 (@avax) September 12, 2025
