Nasdaq submitted an archiving of 19B-4 to the US Securities and Exchange Commission (SEC) to approve the list of a spot Avalanche Exchange-Traded Fund (ETF) managed by GRAYSCALE.

Grayscale is already administering an avalanche confidence that bears a 2.5% management fee. The filing can lead to a cheaper, more flexible investment vehicle with exposure to the Avax tokenet and reflects an industry development against developing regulated vehicles for Altcoin trade. However, SEC has not yet approved any SPOT ALTCOIN -TFs in addition to those offering exposure to ether (ETH).

If approved, the Grayscales Foundation would offer another path for traditional investors to access crypto assets through conventional brokerage accounts. Etf’s custodian would be the detention of coinbase, according to tot he filed.

ETF would keep Avax direct and track the market price for the Avalanche Network’s native token. Cryptocurrency is at the time of trade in trading at $ 20.5 after losing 6.6% of its value in the last 24 hours in the middle of a wider market extraction that has seen the wider Coindesk 20 -Index (CD20) fall by over 4%.

Other companies also look at Avalanche. Earlier this month, Vaneck filed an S-1 form for an Avalanche ETF.

Last month, Grayscale also filed a Cardano ETF, which would become the company’s first deadly ADA investment vehicle.