Avalanche (AVAX) prices have surged more than 5% today following Grayscale’s filing to convert its Avalanche Trust into a spot AVAX ETF. This move has ignited excitement in the crypto community, with many predicting significant price gains if the SEC approves the application. 80% of X posts from traders and influencers are bullish, and social media buzz is fueled by strong fundamentals for Avalanche, including high weekly transactions, substantial DEX volume, stablecoin inflows exceeding Solana and Tron, and progress in gaming and real-world asset sectors. The bullish sentiment is clear, with many anticipating a price surge similar to what we saw when Bitcoin and Ethereum ETFs were approved. While the market seems ready for this potential game changer, some remain cautious, noting that ETF approvals can take time and that traditional market patterns often involve buying rumors followed by selling news. With AVAX still down 82% from its all-time high, investors are also exercising caution. However, overall X activity is heavily bullish on the ETF’s potential for price increases.