VanEck Files Avalanche ETF in US Amid Crypto Market Downturn

  • VanEck registers Avalanche ETF in Delaware, signaling potential spot AVAX ETF in the U.S.
  • AVAX has dropped 55% in 2025, while Bitcoin fell 17%, reflecting broader market struggles.
  • VanEck’s move highlights rising institutional interest in Avalanche despite price declines.

Global investment firm VanEck has registered an Avalanche exchange-traded fund (ETF) in Delaware. The filing suggests a potential submission for a spot AVAX ETF in the United States. The registration, listed under filing number 10125689, was recorded on March 10 and is categorized as a corporate trust service company in Delaware. Public records from the state confirm the submission.

AVAX Faces 55% Decline in 2025 as Market Struggles

VanEck is one of the initial issuers exploring an Avalanche ETF, after its earlier filings for Bitcoin, Ether, and Solana ETFs. The company has been pivotal in the cryptocurrency ETF market, submitting an application for a futures Bitcoin ETF in 2017 and subsequently emerging as one of the first issuers of a spot Bitcoin ETF in the United States in 2024. The latest registration aligns with its ongoing expansion into crypto investment products.

The filing coincides with a precipitous drop in Avalanche’s native token, AVAX. AVAX has lost 55% since the beginning of 2025, which is one of its biggest losses in recent memory. According to CoinGecko data, Bitcoin has also experienced a decline, dropping by around 17% so far this year. Due to persistent economic constraints and regulatory concerns, the larger cryptocurrency industry has suffered.

Avalanche is still a major force in the blockchain industry despite its recent decline in value. Ava Labs launched the network in 2020 with the goal of offering scalable and fast smart contract solutions. With a market valuation of $7 billion, AVAX is currently the 20th largest asset and was in the top 10 cryptocurrencies by market capitalization in 2021.

VanEck’s ETF Registration Sparks Discussions

VanEck’s decision to register an Avalanche ETF has generated discussions among crypto investors. Some members of the community noted that the firm moved forward with AVAX before submitting a similar ETF filing for XRP. 

In a social media exchange, a user questioned VanEck’s head of digital asset research, Matthew Sigel, about the reasoning behind prioritizing AVAX over XRP.

VanEck’s filing is the first known registration of an Avalanche ETF in the United States. Competitor Grayscale previously submitted an application to the Securities and Exchange Commission (SEC) in October 2024 to convert its multi-coin fund—containing AVAX and four other cryptocurrencies—into an ETF. VanEck’s move signals increased institutional interest in Avalanche, despite its recent price struggles.


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