GrayScale AVAX Trust: a new bullish catalyst for AVAX?

[Vincom]

Avalanche, a prominent blockchain, gained significant attention during the 2021 crypto boom. Despite the subsequent downturn, development efforts persisted, resulting in a more robust platform and the potential for it to become a Layer-0 solution, offering users impressive speeds of up to 100k tps ^[1]. However, the price of AVAX has not reflected these advancements. The recent surge in interest and investment in spot BTC ETFs, driven by the Bitseason phenomenon, has diverted investor focus and capital away from AVAX.

The recent establishment of the Grayscale Avalanche Trust has solidified Avalanche's standing within the cryptocurrency market, indicating a favorable trajectory for the asset in the year 2025 ^[2]. The AVAX Trust marks a milestone in expanding AVAX's reach to traditional investors. Its launch, similar to the precedent set by BTC and ETH Trusts, positions it as a precursor to a potential spot AVAX ETF in the near future.

The launch of Grayscale's AVAX Trust offers a significant opportunity for crypto investors. By solidifying their faith in the Avalanche ecosystem, it could drive increased demand and potentially lead to substantial returns on investment. A new ATH for AVAX would be a strong indicator of the token's long-term viability.

I would like to know your opinion on this issue:

• Do you have AVAX in your portfolio? What is your target for AVAX this season?
• Do you think Grayscale AVAX Trust can drive AVAX price up?
• Do you believe we will have a spot AVAX ETF in this cycle or the next cycle?

References:
[1] Ava Labs outlines scaling solution Vryx in plan for Avalanche to reach 100,000 TPS
[2] Crypto Asset Manager Grayscale Offers AVAX Token Investment in New Avalanche Trust

[nelson4lov]

I would like to know your opinion on this issue:

• Do you have AVAX in your portfolio? What is your target for AVAX this season?
• Do you think Grayscale AVAX Trust can drive AVAX price up?
• Do you believe we will have a spot AVAX ETF in this cycle or the next cycle?

1. I don't have AVAX in my wallet — I don't think AVAX has ever been a part of my portfolio even during the 2021 market boom. A lot of things were red hot then so it was fine to not hold everything.

2.  Grayscale trust is actually good for some cryptos. For instance, since SUI got listed in their trust, the price action has been doing really well and moving towards the upside considering Grayscale will do their best to shill it hard and they're a major player. The only downside I see to this is that Grayscale would dump later in the future as they did Bitcoin and Ethereum ETFs trusts.

3. AVAX spot? Not at all. I think SEC might declare AVAX a security. They recently declared Axie Infinity, Filecoin and even ATOM as securities. Polygon was declared a security about a year ago. Some reference: https://cointelegraph.com/news/sec-expands-binance-lawsuit-axs-fil-atom-securities

The only altcoin that I think might get ETFs is Solana. Even that, I think is far fetched.