Major cryptocurrency investment company Grayscale Investments has filed an S-1 registration with the US Securities and Exchange Commission (SEC) to launch a spot Avalanche (AVAX) exchange-traded fund (ETF).
The filing, submitted on Friday and released publicly on Monday, aims to convert Grayscale’s existing Avalanche Trust into a publicly traded ETF. The move underscores the firm’s growing push into digital asset investment products, following recent filings for XRP and Dogecoin (DOGE) earlier this year.
GRAYSCALE SUBMITS S-1 FILING TO THE SEC FOR A SPOT $AVAX ETF. pic.twitter.com/X4FhzONn56
— Mayank Kharayat (@CryptokaGyan) August 25, 2025
Fund details and partnerships
The proposed ETF will trade under the same ticker as the Avalanche cryptocurrency, AVAX ($24.31), and is designed to give investors direct exposure to the token through traditional brokerage accounts.
Coinbase Custody has been appointed as custodian of AVAX, while BNY Mellon will serve as the fund’s administrator and transfer agent, according to the filing.
Nasdaq listing and Grayscale’s expansion strategy
The filing follows a move by Nasdaq, which in March 2025 sought SEC approval to list the AVAX fund. In connection with the filing, Grayscale stated its intention to rename the trust as the Grayscale AVAX Trust ETF upon effectiveness of the registration and approval for listing.
The development comes nearly a year after Grayscale first introduced the Avalanche Trust in August 2024. With the new submission, Grayscale continues its aggressive expansion into spot crypto ETFs, adding Avalanche to its pipeline alongside proposed funds for XRP ($2.96) and Dogecoin.