Nasdaq files to amend rules to list VanEck Avalanche ETF

Nasdaq has applied to the Securities Exchange Commission to amend the rules to allow the exchange to list exchange-traded funds that track the spot price of Avalanche, according to a filing on Thursday.
The 19b-4 filing comes a month after the fund giant filed its VanEck Avalanche ETF application, and a little more than two weeks after Nasdaq filed its rule change application to allow the Grayscale Avalanche fund to list.
Following the successful listing of bitcoin and ethereum spot ETFs last year, these filings and a slew of others tracking top-tier altcoins indicate that issuers are increasingly struggling to meet demand for investment products focused on digital assets. The 11 spot bitcoin funds have generated net inflows of more than $35 billion.