Avalanche ETF Registered by VanEck in Delaware as Interest in Altcoin Funds Grows

VanEck Registers Avalanche ETF in Delaware as Altcoin Fund Filings Gain Momentum

VanEck has taken another step into the altcoin ETF space by registering an Avalanche exchange-traded fund (ETF) in Delaware, even as the crypto market experiences a significant downturn.

According to a filing on Delaware’s Department of State website, the New York-based investment firm registered the “VanEck Avalanche ETF” on March 10. The move comes at a challenging time for the market, with Avalanche’s native token (AVAX) recently dropping to a one-year low of $16.27.

This marks the fourth cryptocurrency ETF VanEck has pursued. The firm previously filed for a spot Solana ETF in June and was an early issuer of Bitcoin (BTC) and Ethereum (ETH) ETFs following their regulatory approvals in January and July, respectively.

As asset managers expand their focus beyond Bitcoin and Ethereum, altcoin ETF filings are gaining traction. On Monday, investment firms Rex Shares and Osprey Fund filed for a MOVE fund, reflecting the growing demand for diversified crypto investment products.