Binance News: Grayscale Seeks Approval for Avalanche Spot ETF

In a significant move for the cryptocurrency market, Grayscale Investments has filed a formal request with the U.S. Securities and Exchange Commission (SEC) to list and trade shares of its spot Avalanche (AVAX) exchange-traded fund (ETF) on the Nasdaq exchange. Here’s what you need to know about this potential game-changer.

Grayscale Files For Spot Avalanche ETF With U.S. SEC

Grayscale has filed a formal request with the U.S. Securities and Exchange Commission (SEC) seeking permission to list and trade shares of its spot Avalanche (AVAX) exchange-traded fund (ETF) on the Nasdaq exchange. The proposed rule change would transform Grayscale’s existing Avalanche Trust, launched in August 2024, into a spot ETF, similar to its Bitcoin (BTC) and Ethereum (ETH) ETFs. If approved, the new product would give investors regulated exposure to AVAX, the native token of the Avalanche network.

Binance Founder Leads Crypto Donations for Deadly SEA Earthquake

A devastating 7.7-magnitude earthquake struck Myanmar and Thailand on Friday, resulting in over 1,700 fatalities and thousands injured. The epicenter was NEAR Mandalay in central Myanmar, causing widespread destruction including collapsed buildings, damaged infrastructure, and flooding. In Thailand, Bangkok experienced significant tremors, leading to the collapse of an under-construction high-rise. Rescue operations are ongoing, and international aid is pouring into the region. Myanmar’s military government has declared a state of emergency and called for global assistance. Notably, Binance founder Changpeng Zhao (CZ) is leading crypto community donations to support relief efforts.