Bitwise Submits Application for Avalanche ETF with SEC as Altcoin Fund Launches Approach

Bitwise Asset Management has formally submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot exchange-traded fund (ETF) tracking Avalanche (AVAX). The filing, made on Monday, signals the firm’s strategic expansion into alternative cryptocurrency investment vehicles beyond Bitcoin and Ethereum. This development coincides with the anticipated market debut of several other altcoin-focused funds this week, including products centered on XRP and Dogecoin. The move underscores growing institutional interest in diversified crypto exposure and reflects a maturing landscape for digital asset investment products. While the SEC’s review process for the proposed Avalanche ETF remains ongoing, industry observers note that the filing aligns with broader trends of fund managers seeking to capitalize on investor demand for niche crypto assets. Bitwise, known for its existing suite of crypto investment offerings, continues to position itself at the forefront of regulated product innovation. The timing of this submission highlights the accelerating pace of financial product development within the digital assets sector, as asset managers compete to provide access to a wider array of blockchain protocols and cryptocurrencies.