Grayscale Investments, a major player in the crypto asset management space, is seeking to convert its Avalanche (AVAX) trust into a publicly-traded Exchange-Traded Fund (ETF). This move would create a new, regulated investment product that tracks the price of AVAX, making it accessible to a wider range of investors.
Coinbase Prime is slated to handle the custody and brokerage services for the proposed ETF, which, if approved, would follow in the footsteps of Grayscale's successful Bitcoin (BTC) and Ethereum (ETH) ETFs.
Meanwhile, AVAX is experiencing a surge in on-chain activity. The network’s C-Chain recently reached a yearly high of 1.7 million daily transactions, outperforming many of its rivals in trading volume. This spike is largely attributed to a sudden burst of activity from decentralized finance (DeFi) protocols, including Uniswap V3, ODOS, and Trader Joe.
Despite this strong network performance, AVAX's price recently dropped by 7.4% due to broader market liquidations. Trading at $24.04, the token remains well below its all-time high of $144, suggesting significant room for growth if the current trading volume on its C-Chain can be sustained.
August 2025, Cryptoniteuae