Overview
- Grayscale filed a Dec. 24 S-1 amendment to convert its Avalanche Trust into a spot ETF, subject to SEC approval.
- The plan would stake up to 70% of the fund’s AVAX and pass staking rewards to shareholders.
- The update refines share creation and redemption, broadens risk and tax disclosures, updates financials, and confirms Grayscale Investments Sponsors LLC as sole sponsor, while leaving management fees and potential waivers unspecified.
- If cleared, the ETF intends to list on Nasdaq under the ticker GAVX, and rivals such as VanEck and Bitwise have filed staking-enabled AVAX ETFs with more detailed economics.
- Market signals are mixed, with one outlet noting a weekly gain and others reporting AVAX near $12 with weak momentum and fading volume.