Key takeaway (or as I like to call it, the “Here’s the Deal” section)
What’s Bitwise up to now? 🧐
Oh, just casually filing for a spot Avalanche ETF, because who doesn’t want to hold AVAX tokens directly instead of playing derivative Jenga? 🎲
Who else is in this crypto Hunger Games? 🏹
VanEck and Grayscale are also in the arena, because apparently, Avalanche is the new black. 🖤
Bitwise has officially joined the altcoin ETF race, because if you’re not filing for an ETF in 2025, are you even trying? 🏎️💨
They dropped an S-1 form with the SEC faster than I drop a mic after a killer SNL sketch. Their goal? An ETF tied to Avalanche [AVAX], because blockchain is the new black (again). 🖤
This move is basically Bitwise saying, “We’re not just a one-trick crypto pony. We’ve got layers, like an onion… or a cake. I’m more of a cake person.” 🍰
Impact of Avalanche ETF Approval (or “What’s in It for Me?”)
If this gets the green light, Coinbase will be the babysitter-I mean, custodian-for Bitwise’s AVAX ETF. 👶
No more wallet woes or private key panic attacks. Just sit back, relax, and let the ETF do the heavy lifting. Because who has time for self-custody when there are memes to scroll? 📱
Shares will be issued in blocks of 10,000 (aka “baskets”), which can be settled in cash or AVAX. Because why choose when you can have both? 🧺💸
Avalanche’s secret sauce? Proof-of-stake, scalable smart contracts, and decentralized governance. Basically, it’s the Swiss Army knife of Layer-1 blockchains. 🇨🇭
These features have made AVAX the Beyoncé of crypto-versatile, unstoppable, and always slaying. 💃
Other Institutions Crashing the AVAX Party 🎉
Bitwise isn’t the only one eyeing the AVAX pie. VanEck filed in March, and Nasdaq said, “Hold my beer,” in April. 🍺
Grayscale’s like, “Hey, we’re converting our Avalanche Trust into an ETF too!” Because why not? Coinbase Custody and BNY Mellon are tagging along for the ride. 🚗
The SEC’s still pondering, probably sipping coffee and wondering if they should approve it or just start their own ETF. ☕
Meanwhile, treasuries are buying Avalanche assets like it’s Black Friday. Because crypto adoption is the new avocado toast. 🥑
Altcoin ETFs are the new hotness, and everyone wants a piece of the action. Bitcoin and Ethereum? So 2023. 🦖
Will AVAX Hit $32? (Spoiler: Maybe? 🤷♀️)
AVAX was chilling at $29.56 last time I checked, but analysts are like, “It could hit $32 if the stars align and the crypto gods smile.” 🌟
But beware! If the hype train derails, it could dip to $27.5. Because crypto is basically a rollercoaster designed by a caffeine-fueled engineer. 🎢
These ETF filings are like a vote of confidence from the big kids’ table, but let’s be real-crypto is still the wild west. 🤠
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2025-09-16 14:10