Summary
- VanEck announced that it has submitted an application for an Exchange-Traded Fund (ETF) that tracks the price of Avalanche (AVAX) to the US SEC.
- The ETF will directly hold AVAX and calculate its daily net asset value based on the 'MarketVector Avalanche Benchmark Rate'.
- Avalanche was reported to be a cryptocurrency with a market capitalization of $7.7 billion, characterized by its high throughput and compatibility with the Ethereum Virtual Machine.
Global asset management firm VanEck has submitted an application for an Exchange-Traded Fund (ETF) that tracks the price of Avalanche (AVAX) to the U.S. Securities and Exchange Commission (SEC).
On the 14th (local time), James Seyffart, a Bloomberg ETF analyst, revealed this information through his X account.
The ETF will directly hold AVAX and calculate its daily net asset value based on the 'MarketVector Avalanche Benchmark Rate'.
Avalanche is a cryptocurrency with a market capitalization of $7.7 billion, ranking 16th among all cryptocurrencies. It is characterized by its high throughput, capable of processing thousands of transactions per second, and its compatibility with the Ethereum Virtual Machine (EVM).
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
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