Bitwise’s Bold Move: What the Avalanche ETF Filing in Delaware Means for the Future of Crypto Investing—and Why You Can’t Afford to Ignore It
Ever wonder what happens when Wall Street meets blockchain in a no-holds-barred showdown? Bitwise Asset Management just threw its hat into the ring by registering an Avalanche ETF in Delaware. This move isn’t just another checkbox—it’s a signal that the world of regulated crypto investing is evolving beyond the usual suspects like Bitcoin and Ethereum. Avalanche, known for its lightning-fast transactions and eco-friendly design, is stepping into the spotlight, and Bitwise aims to give investors a smooth, regulated pathway to tap into AVAX’s potential. Is this the dawn of a new era for single-crypto digital asset funds? If you thought crypto was only for the daring, think again. Hold onto your seats; this could shake up the investment scene big time. LEARN MORE
Bitwise’s latest trust filing shows growing interest in regulated digital asset funds beyond traditional offerings.
Key Takeaways
- Bitwise has registered a trust in Delaware for a potential spot Avalanche (AVAX) ETF.
- The Bitwise Avalanche ETF would expand Bitwise’s lineup of crypto investment products if approved.
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Bitwise Asset Management has registered an Avalanche exchange-traded fund in Delaware as the fund manager seeks to expand its lineup of single-crypto investment products beyond Bitcoin and Ethereum.
The trust entity, called “Bitwise Avalanche ETF,” was registered on September 5. The move signals that Bitwise will soon submit a registration statement to the SEC in a bid to launch the product that tracks Avalanche’s native token AVAX.
Bitwise is not the first to target an AVAX ETF. Earlier this year, Grayscale and VanEck filed with the SEC to launch products tracking AVAX’s price.
Launched in 2020, Avalanche is a blockchain platform from Ava Labs built to overcome the blockchain trilemma. Its consensus system delivers fast settlement in under two seconds, high transaction capacity, and efficient energy usage.
AVAX now ranks as the 23rd largest crypto asset by market capitalization. Bitwise’s registration comes amid a crypto sell-off, with AVAX falling to $24. The token has still gained roughly 13% over the past year, according to CoinGecko data.
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