Nasdaq filed a document (Form 19b-4) to list the VanEck Avalanche (AVAX) ETF, bringing the company closer to launching its full offering. This move follows a preemptive filing for the S-1 form and aligns with VanEck’s March establishment of the Avax Trust to sponsor the ETF. The SEC will now review the ETF proposal, with the process taking months before potential approval. Meanwhile, 40 other altcoin ETFs are awaiting approval from the SEC. 2025 will see a wave of these new offerings for investors. VanEck is also launching an ETP based on AVAX, aiming to create a wider market reach. While this ETF filing follows Grayscale’s potential AVAX ETF proposal, the Avalanche ETF faces competition. This comes as the token remains close to its one-year lows, impacting investor sentiment despite recent advancements from the Avalanche ecosystem. The chain has focused on DeFi applications after its early foray into gaming, attracting users and developers seeking low gas fees.