Grayscale Files to Launch Avalanche Trust on Nasdaq
Grayscale plans to list Avalanche Trust on Nasdaq, aiming to track AVAX performance with Coinbase as custodian and broker.
- Grayscale files SEC S-1 to launch Avalanche Trust.
- The Trust will track the price of AVAX.
- Coinbase will serve as custodian and prime broker.
Grayscale Investments has taken a major step toward expanding its crypto product lineup by filing a Form S-1 with the U.S. Securities and Exchange Commission (SEC). The firm is preparing to launch the Grayscale Avalanche Trust, which will be designed to track the price performance of Avalanche’s native token, AVAX.
The proposed trust aims to list its shares on Nasdaq, making it easier for traditional investors to gain exposure to AVAX without directly purchasing or storing the cryptocurrency. This move aligns with Grayscale’s broader strategy to bridge the gap between digital assets and traditional financial markets.
Coinbase to Play Key Role
Grayscale is teaming up with Coinbase to support this initiative. Coinbase Custody Trust Company has been appointed as the custodian, meaning it will securely hold the AVAX tokens backing the Trust. Meanwhile, Coinbase, Inc. will act as the prime broker, handling trade execution and market operations for the Trust.
This dual involvement by Coinbase reinforces investor confidence by relying on a trusted and regulated U.S.-based crypto infrastructure provider. It also highlights the growing institutional support behind AVAX, a token known for its scalability and eco-friendly blockchain platform.
What This Means for AVAX and Investors
The launch of the Grayscale Avalanche Trust could significantly increase institutional interest in AVAX. By offering an accessible, regulated way to invest in Avalanche, Grayscale lowers the barrier for new capital to enter the ecosystem. This development comes as part of a larger trend where traditional financial institutions are beginning to integrate more crypto products.
If approved, the listing of the trust on Nasdaq would mark a milestone for Avalanche, potentially boosting its visibility and long-term adoption in both the crypto and investment worlds.
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