VanEck has filed for an exchange-traded fund (ETF) to track Avalanche’s AVAX coin, as asset managers aim to tap into the growing interest in cryptocurrencies beyond Bitcoin.
Investment firms are launching new products for investors seeking the next breakout token, inspired by Bitcoin’s impressive rally.
Earlier this month, Franklin Templeton filed for an ETF linked to the spot price of XRP. In February, they also applied for an ETF tracking Solana’s spot price.
Avalanche’s AVAX coin has a market capitalization of around $8 billion, according to CoinGecko.
