Investing.com -- Asset management firm, VanEck, has submitted a filing to launch an exchange-traded fund (ETF) that will monitor the price of Avalanche ’s avax coin.
Investment companies are continuously introducing new products targeting investors who are on the hunt for the subsequent standout token, encouraged by bitcoin’s extraordinary rally.
Earlier this month, Franklin Templeton, another asset management firm, lodged a filing for an ETF linked to the spot price of the cryptocurrency XRP .
In February, the company had also filed for an ETF that will follow the spot price of Solana .
Avalanche’s avax coin currently has a market capitalization of around $8 billion, as reported by the cryptocurrency data and analysis company CoinGecko.
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