Grayscale, a digital asset management firm, has launched a fund that provides investors with exposure to Avalanche (AVAX).
The company revealed that the Grayscale Avalanche Trust is now available to qualified accredited investors and will operate like other crypto funds it offers.
Grayscale is one of 10 asset managers that received the green light from the Securities and Exchange Commission in January to launch a spot bitcoin exchange-traded fund.
Since then, the company has done the same with Grayscale’s Ethereum ETF after it was approved to launch spot Ethereum ETFs in the United States.
Grayscale also launched “Mini” versions of its Bitcoin and Ethereum spot ETFs with lower comparative fees for investors.
But aside from spot ETFs for the top two of these assets, Grayscale also provides investors exposure to the rapidly evolving and often complex world of cryptocurrency investing through Trusts for Bitcoin Cash, Filecoin, Chainlink, Litecoin, and other assets.
“Through its key strategic partnerships and multiple features, Avalanche plays a pivotal role in advancing the digital representation of real-world assets,” said Rahina Sharif Askari, Head of Product and Research at Grayscale.
AVAX is the 14th largest cryptocurrency by market cap, according to CoinGecko data. Its cryptocurrency network is designed to allow developers to build decentralized applications (dapps), which aim to improve existing platforms by removing middlemen and being fairer to users and creators.#BTC
