Asset management company VanEck registered an Avax ETF in Delaware on March 10. This move has raised hopes for submitting an official Avax spot ETF request to the U.S. Securities and Exchange Commission (SEC) and has contributed to the token’s price growth, despite market corrections. With Donald Trump’s victory and management changes at the SEC, asset management companies are more inclined to offer digital currency ETFs. VanEck, which previously requested an ETF for Solana this year, is now expanding its product line by registering the Avax ETF. This action is not just a simple request; it signifies Avax’s progress in tokenization. The blockchain collaborates with major financial companies like JPMorgan and Mastercard on portfolio management and other financial matters. Following news about the Avax ETF, the token’s price increased from $15 to $17, with its daily trading volume growing by 97% to over $715 million. However, the profit index for this cryptocurrency decreased by 8% to $294 million. According to Coinglass data, Avax’s liquidated positions in the past 24 hours were $4.43 million. If VanEck promptly presents its official request for the Avax spot ETF, the upward trend of this altcoin may strengthen. On March 7, 2025, analyst Miles Deucher reported a significant increase in new users in the Avax blockchain during the first quarter of 2025. Data shows a 120% growth in new users from January to March, reaching 45,000 users this month. Nevertheless, the continuation of Bitcoin price corrections can impact the overall digital currency market. Analysts continue to monitor macroeconomic indicators and await the release of U.S. inflation data (CPI) this week. On the real-time digital currency price page, you can view the prices of all tokens and cryptocurrencies live and instantaneously.
