Bitwise's ETF application may potentially propel the price of AVAX towards $32.
In the rapidly evolving world of cryptocurrency, Avalanche is making waves as several prominent institutions have filed for Exchange-Traded Funds (ETFs) based on the platform. Bitwise's latest move signals its intent to expand its ETF lineup beyond existing crypto products, with a proposed Avalanche ETF in the works. This development comes as no surprise, given the growing institutional confidence in Avalanche, reinforced by recent treasury purchases of Avalanche assets. Grayscale, a heavyweight in the crypto ETF space, has also thrown its hat into the ring. The company filed to convert its Avalanche Trust into a spot AVAX ETF, with plans for Coinbase Custody as custodian and BNY Mellon as administrator. The SEC has extended its review for this Grayscale Avalanche ETF to mid-July, with no final decision announced as of yet. VanEck, another well-known name in the ETF industry, submitted its S-1 filing for an Avalanche ETF in March 2025. Nasdaq proposed enabling listing for the VanEck Avalanche ETF in April, adding to the growing anticipation. The proposed ETFs would hold AVAX tokens directly, rather than derivatives, and shares will be issued and redeemed in blocks of 10,000. This structure is designed to provide investors with a more straightforward and transparent investment vehicle. The risks associated with directly translating Avalanche's market swings into regulated investment products are not ignored. The filings underscore the potential volatility of such ventures, and analysts warn of a potential pullback to $27.5 if speculative demand for AVAX were to fade. Despite these risks, the pending ETF filings signal a growing appetite for altcoin-focused ETFs, moving beyond traditional heavyweights like Bitcoin [BTC] and Ethereum [ETH]. This trend toward broader crypto adoption is further reinforced by recent treasury purchases of Avalanche assets. As institutional interest in blockchain-based assets accelerates, it's clear that Avalanche is poised to play a significant role in this burgeoning market. If approved, Coinbase will act as the custodian for Bitwise's proposed AVAX ETF, further solidifying the platform's position in the crypto ecosystem. Analysts are bullish on AVAX's future, with predictions of a push toward the $30-$32.7 range if momentum continues. However, only time will tell if these predictions come to fruition and whether the Avalanche ETFs will indeed revolutionise the crypto investment landscape.
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