According to breaking news, the SEC has postponed its decision on the Grayscale Avalanche (AVAX) Spot ETF.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s Spot Avalanche ETF application.
Grayscale’s proposal involves converting the currently traded Grayscale Avalanche Trust fund into spot ETFs. This conversion would allow investors to access the altcoin directly through regulated financial products based on AVAX.
If approved by the SEC, this ETF would allow both institutional and individual investors to invest in Avalanche through traditional brokerage firms. However, this approval has not yet been granted for any altcoin. To date, the SEC has not approved a single spot ETF based on major altcoins like Ethereum, Solana, or XRP.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-sec-issues-update-on-the-much-awaited-altcoin-spot-etf-filing/