- Vaneck has submitted an S-1 registration at the SEC to create an Avalanche ETF that is intended to expand the investment options in cryptocurrencies.
- The network upgrades from Avalanche and the new visa-bound Avalanche Card increase the benefits and support broader acceptance beyond speculative investments.
Vaneck, one of the world’s largest asset managers, has at the US stock exchange supervisory authority Securities and Exchange Commission (Sec) An S-1 registration declaration submitted to laying a stock market -traded fund based on Avalanche (Avax). If the approval is granted, the stock market -traded fund will offer a new option for those who want to get involved in Avax without having to own and manage the digital asset directly.
Avalanche ETF: Vaneck sees new chance beyond Bitcoin and Ethereum
In view of the growing interest in crypto ETFs outside of Bitcoin and Ethereum, Vaneck’s action is not shocking. Vaneck sees a similar perspective for avalanches, since the SEC approved a Bitcoin ETF for spot values in January and recently took place for Ethereum.
Based on the Market Vector Avalanche Benchmark Rate, which combines price information from five important trading platforms, the product is pursuing the AVAX price.
Conversely, this file also fits Vaneck’s approach to expand its range of crypto -based products. The company has already put several ETFs on digital assets to show how serious it is to combine the conventional financial world with the rapidly growing blockchain environment.
His native token, Avax, which is back in the green area, comes next in new developments. At the time of the creation of this article, AVAX is traded at around $ 19.57 and has increased by 4.38 % in the last 24 hours.
Network upgrades and grants strengthen the attractiveness of avalanches
Vaneck could see a considerable promise in Avalanche because the network has just shown a remarkable development. Avalanche had an important update in December, which effectively dropped 75% of the transaction fees. This improvement made the network more economical and efficient for consumers, which increased its attractiveness as a preferred platform for developers and crypto users.
In addition, the Avalanch Foundation under Retro9000 starts a funding program with a fund of $ 40 million. This project aims to inspire more developers to expand the Avalanche ecosystem before the Avalanche 9000 upgrade comes. It is expected that the Avalanche system will flourish with this financial support and will attract both developers and investors.
Crypto editions made easy: Avalanche card goes live
Avalanche is not only viewed from the point of view of investing, but is also increasingly associated with payment systems in the real world. As CNF reported, the Avalanche Foundation developed the Avalanche Card in cooperation with the Visa Network Issuer Rain. Users of the card can spend digital assets, including USDC, USDT, AVAX and WAVAX, wherever visas are accepted.
The use of the Avalanche Card frees crypto users from concern for restrictions on the issue of assets. Rain’s infrastructure enables the use of a conventional debit or credit card, which makes transactions with AVAX easy. This step underlines the role of avalanche in promoting the acceptance of cryptocurrencies in everyday life, not just as a speculative facility.
Avalanche ETF is waiting for SEC decision
Although Vaneck’s Avalanche ETF application is a welcome message for the crypto community, approval by the Sec is even difficult.
So far, the US authorities have been careful when approving ETFs based on other digital assets as Bitcoin and Ethereum. Nevertheless, the approval is not without a chance because Avalanche is considered solid and creative.
No Comments