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Highlights
- VanEck's Avalanche ETF registration comes amid increased comfort among asset managers to file crypto ETFs.
- Avalanche is gaining traction in the tokenization space, collaborating with major players like JPMorgan and Mastercard.
- Following a dip to $15, AVAX rebounded to $17 with a 97% surge in daily trading volume, reaching $715 million.
As per the latest reports, digital asset manager VanEck has registered an Avalanche ETF in Delaware on Monday, March 10. This has led to the hopes of a spot AVA ETF filing coming soon with the U.S. Securities and Exchange Commission (SEC). This development helped to arrest the downside in the AVAX price amid the broader market correction, and reversed the trajectory on the upside.
Will VanEck File For A Spot Avalanche ETF Soon?
Following Donald Trump’s victory and change in regime at the US SEC, asset managers have become more comfortable filing for different crypto ETFs in the market. After filing for Solana ETF earlier this year, VanEck seems to be willing to expand its product line as it registers for the Avalanche ETF in Delaware court on Monday.
Avalanche To Play Big Role In Tokenization
The recent registration for Avalanche ETF is not just another filing from VanEck, but instead a well-thought-out move. The blockchain network is making strong progress in the world of tokenization. Avalanche is already working with some of the big players in the financial industry, such as JPMorgan and Mastercard, working on factors like portfolio management, etc.
Furthermore, JPMorgan has been working to integrate its Onyx platform with a permissioned Avalanche Evergreen Subnet. Avalanche Evergreen Subnets are custom-designed blockchains tailored for institutional use, offering EVM compatibility, network privacy, customizable gas structures, and permissioning across validation, smart contract deployment, and transaction processes.
Amid developments surrounding the AVAX ETF, the AVAX Price bounced back from the lows of $15 earlier today, and has regained $17 levels as of press time.
Will AVAX Price Rally Continue?
Following today’s crypto market crash, the AVAX price has been showing some recovery, bouncing back partially from the lows of $15 earlier today. The daily trading volume for Avalanche has shot up by 97% to more than $715 million, while the open interest has dropped by 8% to $294 million. As per the Coinglass data, the 24-hour liquidations have also soared to $4.43 million.
If VanEck makes a quick move in filing for a spot Avalanche ETF, it could trigger an overall bullish sentiment for the altcoin. On March 7, 2025, financial analyst Miles Deutscher highlighted a notable increase in monthly new users on the Avalanche blockchain during Q1 2025 (Source: X post by Miles Deutscher). According to the data, Avalanche saw a 120% rise in new users from January to March, culminating in a peak of 45,000 new users in March.
The current Bitcoin price correction could continue to weigh over the overall crypto market. Analysts are keeping a close watch on the macro indicators awaiting the release of US CPI data this week.
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