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Avalanche ETF Moves: Bitwise Joins Grayscale and VanEck in Exciting Race

Asset management firm Bitwise has recently filed an S-1 registration statement with the SEC to launch an ETF focused on Avalanche (AVAX), marking a significant move in the crypto investment space.

This ETF aims to provide investors with direct exposure to AVAX by holding the cryptocurrency directly, thereby simplifying access and avoiding the complexities of derivatives.

The fund's net asset value will be determined using the CME CF Avalanche–Dollar Reference Rate, with Coinbase Custody Trust Company set to act as custodian.

However, details on the exchange listing and ticker symbol remain undisclosed at this time.

Bitwise's initiative follows similar applications from VanEck and Grayscale, both of which are also seeking approval for their own Avalanche ETFs.

As AVAX has experienced a bullish rally, with a nearly 30% increase this month, the timing of this filing could greatly impact institutional interest.

Currently, AVAX is priced just above $30, a level not seen since early 2025, and its daily active addresses are on the rise, suggesting strong user adoption.

Despite the positive momentum, analysts warn of potential short-term volatility linked to increased leveraged futures positions, which could trigger corrections.

Yet, the broader outlook for AVAX appears optimistic, with predictions indicating the potential to reach prices as high as $54 in the coming months.

Overall, the combination of Bitwise's ETF filing and favorable market conditions could play a crucial role in the mainstream recognition of Avalanche as an investment asset.