Overview

• The S-1 filed on Aug. 25 seeks to convert Grayscale’s private Avalanche Trust into a publicly traded fund to be renamed the Grayscale AVAX Trust ETF upon effectiveness and listing.
• Coinbase is designated as custodian and prime broker, BNY Mellon as administrator and transfer agent, and CSC Delaware Trust Company as trustee.
• Shares would be issued and redeemed in 10,000‑share baskets with cash‑only orders at launch, with in‑kind processes contemplated pending regulatory sign‑off.
• The trust may participate in AVAX staking under specified conditions, potentially earning rewards while temporarily locking staked tokens.
• The move follows a Nasdaq 19b‑4 filing in March and faces an uncertain SEC timeline as competing AVAX ETF efforts, including VanEck’s, remain under review.