- VanEck’s AVAX ETF offers exposure without needing wallets or crypto platforms.
- Daily NAV uses median pricing from the top five AVAX exchanges via MarketVector.
- Nasdaq ensures AVAX ETF oversight with Coinbase Derivatives surveillance data.
VanEck has filed for a spot Avalanche ETF, and Nasdaq aims to list it under Rule 5711(d) for commodities. The move would enable institutional exposure to $AVAX without direct token ownership, wallets, or crypto exchanges.
VanEck Targets $AVAX Exposure With SEC Filing
According to a post by Wess, VanEck submitted its Avalanche ETF proposal, marking its fourth spot crypto ETF attempt. The trust will hold AVAX directly, with a third-party custodian managing segregated cold wallets on the blockchain. Investors would access price exposure without transacting in digital assets or using crypto platforms.
The filing follows VanEck’s previous attempts to launch ETFs for $BTC, $ETH, and $SOL, signaling continued expansion into crypto markets. Nasdaq’s April 9 filing requests permission to list the VanEck Avalanche Trust, a passive product tied to spot AVAX. The ETF offers regulated access for investors seeking exposure without custody risks or technical complexity.
Structure, Custody, and MarketVector Index Details
The VanEck Avalanche Trust operates as a passive commodity-based ETF that tracks AVAX spot prices using the MarketVector Index. It does not utilize leverage or derivatives and avoids managing incidental rights like airdrops or forks. The fund stakes AVAX through approved providers, treating rewards as taxable income held in the Trust.
Custody is maintained via a third-party cold storage provider, with AVAX wallets verifiable on-chain and segregated from other clients. The Index sources pricing from the top five AVAX exchanges based on CCData benchmarks. NAV is calculated daily using volume-weighted median prices from rolling trade windows before 4:00 p.m. ET.
Surveillance, Market Oversight, and Listing Protections
Nasdaq’s filing cites its surveillance-sharing agreement with Coinbase Derivatives, which lists AVAX futures contracts under ISG oversight. This framework replicates the structure used in approved $BTC and $ETH spot ETF listings. Real-time and post-trade monitoring from Nasdaq and FINRA targets spoofing, wash trades, and price distortions.
The trust offers creation and redemption in 25,000-share baskets, either in-kind with AVAX or cash-settled via a liquidity provider. Daily NAVs, IIVs, and fund holdings will be publicly posted, with IIV updating every 15 seconds on Bloomberg, Reuters, and trading platforms. Trading halts apply under Rules 4120 and 4121.
