VANECK, a global investment manager, has applied for the US Securities and Exchange Commission (SEC) for the US Securities and Exchange Commission (SEC) to the US Securities and Exchange Commission (SEC).
On March 14, the Bloomberg analyst James Seyffart is closely monitoring the development of the Crypto ETF industry by the S-1 submission.
source: James Seypart
The proposed Vaneck Avalanche ETF is trying to reduce the cost of trust operations by reflecting the price of “Avax”, the default token of “Avalanche Network.”
The proposed fund will have AVAX and said, “We will be valuable every day according to the reported Marketvector Avalanche benchmark ratio.”
As Seyffart mentioned in the subsequent posts, the registration of the trust was “Widely shared earlier this week, but this is the first actual submission with the SEC.”
Avalanche is the 16th largest password asset and the total market cap is $ 7.7 billion. Blockchain is famous for its high throughput and EVM (Ethereum Virtual Machine) compatibility.
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The ETF race is heated
The overwhelming success of the US Spot Bitcoin (BTC) exchange fund and Washington’s pro -crypto administration elections have caused the inflow of encryption fund applications in the SEC.
As recently reported, nine publishers applied for XRP (XRP) ETF, and Franklin Templeton joined the race on March 11. The publisher is competing to list the ETF connected to Solana (SOL), Litecoin (LTC) and Dogecoin (Doge).
The SEC made a decision on these proposals, but decided to specify a longer period of time for review, but Seyffart and fellow Bloomberg analyst Eric Balchinas says there is a “relatively high probability of approval.”
According to JPMORGAN’s January report, ALTCOIN ETF’s approval will lead to billions of dollars, emphasizing the demand for cryptocurrency. In particular, SOL and XRP products can attract the most institutional attention.
Assuming the appropriate adoption rate, SOL and XRP ETFs can attract billions for the first 12 months. Source: JPMORGAN
“When applying these so -called” adoption rate “to SOL and XRP, we seem to see that SOL collects net assets of about $ 3 billion and XRP to collect net new assets of $ 4 billion to $ 8 billion.”
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