Bitwise just submitted documents to the Securities and Exchange Commission (SEC) for an Avalanche ETF. This would let investors get into AVAX, which sits as the 19th biggest crypto by market value right now. They plan to use Coinbase for holding the assets, and it fits with other altcoin funds starting to show up in the US.
Avalanche works as a blockchain platform that goes head-to-head with Ethereum, but it’s cheaper and quicker for developers to build on. Lately, AVAX price jumped up, crossing over $30 after a 6% bump in the last day. That kind of action has people paying more attention to ETF ideas around it, you know.
Funds for other altcoins like XRP and Dogecoin are close to launching here in the US, through outfits like REX Shares and Osprey Funds. These would give exposure via a setup in the Cayman Islands, kind of a subsidiary thing. It shows how interest in these investment options is picking up steam.
Also Read: Avalanche (AVAX) Price Breakout Opens Bullish Path Toward $49.00
Bitcoin and Ethereum ETFs got filed under the old 1933 Securities Act, but these Rex-Osprey ones use the 1940 Investment Company Act instead. That shift could change how the funds are built and run day to day. Folks looking at altcoin ETFs ought to keep those details in mind.
Last year, the SEC greenlit Bitcoin ETFs, and those 12 funds now hold close to $152 billion. Then came Ethereum approvals, which opened doors for more altcoins. With applications piling up, everyone in crypto is keeping an eye on what the regulator does next.
Bitwise filing for an Avalanche ETF points to bigger things in the crypto space, especially for altcoin options. As the SEC reviews these, investors and managers are waiting to see what happens. New ETFs could really push the market toward more fresh ideas and expansion.
Also Read: Avalanche Faces Make-or-Break Moment at $30.50 Resistance Level
Also read: Ethereum ETF News: Remittix Backed As The Next 100x Crypto Contender
