Grayscale has announced its intention to present an Avalanche ETF by transforming its Avalanche Trust structure through a filing with the U.S. Securities and Exchange Commission (SEC). The previous similar application by VanECK indicates a notable competition for Avalanche in the ETF race. This development could ignite an upward movement in AVAX prices as institutional interest grows. Experts suggest that technical analysis signals also present positive indications for this upward trend.
Grayscale’s Bold Move for Avalanche ETF
The cryptocurrency investment giant Grayscale has officially filed with the SEC to launch an AVAX-based exchange-traded fund (ETF). This application has initiated the approval process for the Avalanche ETF, set to be traded on the Nasdaq. The filing was made under Nasdaq’s existing regulations, and if successful, Grayscale will become the second company to market an AVAX ETF.
The previous application by VanECK clearly highlights the institutional interest in Avalanche. Recently, the SEC has adopted a more flexible approach to such applications. Institutional investors are turning towards crypto-based ETFs as regulatory clarity increases. Grayscale’s move is seen as part of this broader trend.
Technical Strength Signals for AVAX Prices
Technical analysis expert Jarfan indicates that AVAX has been showing remarkably strong signals recently. The analyst noted that the price chart of AVAX is one of the clearest structures in the market. The breaking of previous lows and the formation of a double bottom on higher time frames supports AVAX’s upward potential, with Jarfan suggesting that a price of $44 is possible in the short term.
According to analyses, AVAX is moving above a strong support line, and as long as this support holds, the likelihood of a price increase remains high. Additionally, if Bitcoin 
$91,081‘s price surpasses certain thresholds, AVAX is expected to be directly influenced by this momentum, further increasing investor interest.
The rise in the number of ETF applications is interpreted as a sign of growing institutional confidence. The overlap of technical indicators with these institutional moves indicates that AVAX could initiate a new upward trend in market value. Investors are closely monitoring developments and awaiting the SEC’s approval.
