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Bitwise has filed with the U.S. Securities and Exchange Commission (SEC) to launch a spot Avalanche ETF. The filing follows the trust’s registration in Delaware, where it was organized as a statutory trust. This is a proposed fund that will give direct exposure to Avalanche as it will be holding AVAX tokens in custody instead of derivatives.
Avalanche ETF: Direct Exposure to AVAX Through Custody
According to the crypto news, Bitwise Avalanche ETF will hold AVAX directly, with shares to be listed on a U.S. exchange. The ticker symbol will be announced later. Also, net asset value will track the CME CF Avalanche–Dollar Reference Rate, which CF Benchmarks publishes daily.
More so, Coinbase Custody, regulated under New York banking law, will store tokens in segregated accounts with cold storage protection. This structure lets investors gain AVAX exposure without handling wallets or private keys. Shares will be issued and redeemed in blocks of 10,000, known as baskets, settled in cash or Avalanche.
Avalanche Price Analysis
Avalanche supports proof-of-stake consensus, scalable smart contracts, staking, governance, and subnet creation. CoinMarketCap data indicated AVAX price trading at around $30.32, a 1.29% increase over 24 hours. Despite this recovery, however, the token sits 57% lower than its all-time high.
Avalanche price recently broke out of a long consolidation range, indicating possible upward movement. According to analyst CRYPTOWZRD, chart data indicated a confirmed breakdown from an ascending triangle pattern at the $29 mark with $54 as the next major target.
The move showed intense buying pressure and indicates that AVAX could continue to the upside if the breakout holds.
VanEck and Grayscale Pursue Similar Plans
Bitwise joins other asset managers seeking SEC approval for a spot Avalanche ETF. VanEck filed an S-1 for its AVAX ETF in March 2025. Nasdaq submitted a proposed rule change in April 2025 to allow the listing. The SEC has not decided, and the application is still active.
Grayscale filed on August 22, 2025, to convert its Avalanche Trust to a spot AVAX ETF. The application proposes to begin trading on the Nasdaq, with Coinbase Custody acting as custodian and BNY Mellon as administrator. The SEC extended the review to July 15, 2025, but no decision was made.
These filings show expanding institutional demand for Avalanche exposure through regulated investment vehicles.
Crypto ETF Market Beyond Bitcoin and Ethereum
Meanwhile, the push to launch Avalanche ETFs is part of a larger push to broaden regulated crypto investment choices beyond Bitcoin and Ethereum. These two cryptocurrencies have dominated UTC spot ETF approvals thus far. Targeting AVAX Bitwise, VanEck, and Grayscale will serve investors’ growing interest in blockchain networks.
Custody protection, pricing transparency brought by CF Benchmarks, and a complete lack of exposure to any derivative product, could be attractive to institutional investors. Since the SEC is looking through all the applications, investors are watching decisions that can influence the crypto ETF space.
Bitcoin and Ethereum ETFs are already doing well and are taking good institutional inflows in the face of the Avalanche ETF news. The net inflows in Bitcoin ETFs amounted to $2.34 billion during September 8-12, whereas Ethereum ETFs added $638 million. It is worth noting that the BTC ETF recorded the largest amount of BTC inflows in a day of 5,900, equivalent to approximately 741.5 million.
