Grayscale Files S-1 to Launch Avalanche (AVAX) Trust, Eyes Nasdaq Listing

Key Points:

• Grayscale seeks SEC approval to list Avalanche Trust ETF on Nasdaq.
• Coinbase Custody and BNY Mellon will support fund operations.
• AVAX trades near $24 with breakout targets up to $54.

Grayscale Investments has filed an S-1 with the US Securities and Exchange Commission to launch the Grayscale Avalanche Trust. The firm aims to convert its existing AVAX Trust into a publicly traded spot exchange-traded fund.

The proposed ETF would hold Avalanche directly and track its market price, providing investors exposure through traditional brokerage accounts. Coinbase Custody will serve as custodian, while BNY Mellon will act as administrator and transfer agent.

Nasdaq filed in March to list the shares, pending SEC approval of listing standards for the product. If approved, the fund will trade under the name Grayscale AVAX Trust ETF, offering regulated access to Avalanche.

The filing follows Grayscale’s broader expansion into spot crypto ETFs, with similar applications for XRP and Dogecoin earlier this year. The company introduced the original Avalanche Trust in August 2024, positioning it as a vehicle for institutional exposure.

AVAX Price Holds Key Levels Amid Technical Breakout Setup

Avalanche is trading at $24.15, showing a modest hourly gain of 0.21% despite a 3.57% daily decline. On the weekly chart, AVAX remains positive, up 1.87%, signaling resilience against short-term selling pressure.

The token is consolidating within a symmetrical triangle on the daily timeframe, a formation that often precedes a decisive breakout. Analysts identify $24.00–$25.00 as a pivotal zone that could determine near-term momentum.

A sustained push above this support would validate bullish momentum and open targets at $27.00, $32.50, $41.50, and potentially $54.00. However, failure to hold current levels may trigger a retracement toward $22.50 or even $19.00.

Crypto analysts view the ETF filing as a potential catalyst that could bolster sentiment for Avalanche. Increased institutional access through regulated products may enhance liquidity and strengthen the long-term investment case for AVAX.