Key Points
- The next step for VanEck is to apply for an AVAX ETF with the US SEC.
- AVAX price surged today.
VanEck has officially applied for an Avalanche (AVAX) ETF in Delaware, triggering a price surge for the digital asset today.
VanEck is a global investment firm with headquarters in New York City.
VanEck Applied for an AVAX ETF in Delaware
According to the latest reports, VanEck has filed for an AVAX ETF in Delaware, and this means that a potential filing with the US SEC for a spot AVAX ETF is on its way.
VanEck’s filing is dated March 10.
VanEck already has a Bitcoin ETF called HODL with CBOE exchange and an Ethereum ETF called ETHV live with the same exchange.
The firm’s move comes amidst multiple ETF applications for various digital assets, Recent ones include REX-Osprey which filed for a Movement (MOVE) ETF, and Bitwise which registered an Aptos (APT) ETF entity, also hinting at an upcoming SEC filing.
Under the new Trump administration in the US, multiple investment firms have had their ETF applications acknowledged by the US SEC for various digital assets.
The price of AVAX surged today.
AVAX Price Rebounded Today
At the moment of writing this article, AVAX is trading at $17.2, and the digital asset has a market cap of $7.12 billion.
Earlier, AVAX was trading at around $15 levels, and the digital asset recorded a price surge of more than 3%, reaching current price levels.
In the past week, AVAX recorded intense volatility with its price debuting a surge on March 4 from $19 levels and hitting a top above $22 on March 6, before debuting a descendant trajectory until today’s reversal upwards.
On March 8, the team at Avalanche announced that L1 validators on AVAX continue to grow, surpassing 1,400 following the Avalanche9000 upgrades.
Avalanche is an L1 blockchain that functions as a platform for dApps and customer blockchain networks.
