In a big advance toward the familiar use of digital assets, investment management firm VanEck has gone and done something quite novel. They have filed with the U.S. Securities and Exchange Commission (SEC) to list a spot Avalanche (AVAX) exchange-traded fund (ETF) on the Nasdaq stock exchange. If, after a customary wait of several months, the approval comes back green, the fund will offer something quite radical: exposure to the price movements of Avalanche without requiring the actual cryptocurrency itself. The Avalanche VanEck proposed ETF would be physically backed, meaning it would hold AVAX tokens directly and track their market
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