Grayscale Investments has submitted an S-1 registration statement to the SEC seeking approval to convert its Avalanche Trust into a spot AVAX ETF, with plans to list on the Nasdaq stock exchange by March 2025. This move signifies a significant step towards expanding regulated access to the AVAX cryptocurrency and could greatly influence market dynamics. The company’s plan involves Coinbase Custody for managing AVAX tokens and BNY Mellon for fund administration. The SEC’s decision on the proposed ETF is anticipated, with a deadline set for July 15, 2025. This new structure, expected to provide better liquidity and price discovery compared to current trusts, may attract more institutional investment in the AVAX market.