The Securities and Exchange Commission is announcing that on April 9, 2025, The Nasdaq Stock Market LLC filed a proposed rule change to list and trade shares of the VanEck Avalanche ETF under Nasdaq Rule 5711(d). These shares, known as Commodity-Based Trust Shares, aim to track the performance of AVAX, the native token of the Avalanche network. The ETF will not use leverage or derivatives but may stake AVAX to earn rewards. Comments from the public are invited to evaluate consistency with the Securities Exchange Act.
Simple Explanation
The Securities and Exchange Commission is letting people know that a new plan has been suggested for a type of special stock, like a toy that tracks the value of a magic coin called AVAX. This special stock won’t use tricks or fancy helpers but might earn tiny bonuses by playing with the coins.