According to a report by Cointelegraph
the American asset management company VanEck has registered a statutory trust in Delaware, named “VanEck Avalanche ETF”. This indicates that the company may soon apply for a spot exchange-traded fund (ETF) that tracks the price of the Avalanche native token, AVAX.
AVAX Price Movement
The price of AVAX has fallen by approximately 9% in the past 24 hours, in line with the overall decline in the cryptocurrency market, with a trading price of $16.6 as of press time.