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Crypto asset manager VanEck established a trust company for an Avalanche fund in Delaware weeks earlier, and is pursuing a spot Avalanche ETF in the U.S. itself.In June, the SEC punted on VanEck’s application, giving itself additional time to make a decision. Applications focused on other cryptocurrencies have faced similar delays.The Commission gave Grayscale permission to list an ETF holding Solana, XRP, and Cardano in July—but the debut was subsequently paused. The SEC later said that month that it had approved an order advancing a “merit-neutral approach” to applications for certain crypto-focused ETFs. Experts are expecting a series of approvals in October, following the debut of spot Bitcoin and Ethereum ETFs in the U.S. last year.In late June, Bloomberg ETF Analyst James Seyffart penciled in a 90% chance that Avalanche ETFs are approved in the U.S. this year. He issued similar odds for applications for ETFs holding Dogecoin, Cardano, Polkadot, and HBAR.Medical Device Firm's Stock Spikes After Pivoting to Solana With $400 Million Treasury PlanAvalanche is the 22nd largest cryptocurrency by market capitalization, worth $10 billion, according to crypto data provider CoinGecko. On Monday, the token’s price fell to $24, a 7.6% decrease over the past day.In April, investment bank Standard Chartered predicted that the token could hit a price of $55 by the end of the year and $250 by the end of the decade, citing its unique approach to scaling through so-called app networks, previously called subnets. AVAX previously peaked at a price just shy of $155 back in 2021.Avalanche is one of the more popular layer-1 networks when it comes to decentralized finance, or DeFi. The network had nearly $2 billion worth of assets being used within DeFi applications on Monday, according to crypto data provider DefiLlama.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,482.75 +0.25 (+0.00%)Dow Futures45,504.00 +15.00 (+0.03%)Nasdaq Futures23,594.75 +3.25 (+0.01%)Russell 2000 Futures2,362.00 -2.10 (-0.09%)VIX14.75 +0.13 (+0.89%)Gold3,429.80 -3.20 (-0.09%)PortfolioSign in to access your portfolioSign inTop gainersSATS EchoStar Corporation 50.87 +20.99 (+70.25%)SMTC Semtech Corporation 58.72 +7.72 (+15.14%)HSAI Hesai Group 26.67 +3.29 (+14.07%)UUUU Energy Fuels Inc. 12.31 +1.38 (+12.63%)LEU Centrus Energy Corp. 208.67 +23.39 (+12.62%)Top losersNEGG Newegg Commerce, Inc. 67.03 -17.97 (-21.14%)KDP Keurig Dr Pepper Inc. 28.95 -2.15 (-6.91%)FUN Six Flags Entertainment Corporation 24.00 -1.48 (-5.81%)BWLP BW LPG Limited 15.10 -0.89 (-5.57%)CRGY Crescent Energy Company 9.02 -0.52 (-5.45%)Most activeOPEN Opendoor Technologies Inc. 4.7000 +0.1600 (+3.52%)NIO NIO Inc. 6.70 +0.61 (+10.02%)NVDA NVIDIA Corporation 181.77 +1.94 (+1.08%)WBA Walgreens Boots Alliance, Inc. 11.92 -0.05 (-0.42%)LCID Lucid Group, Inc. 2.1100 +0.0300 (+1.44%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersMDB MongoDB, Inc. 214.34 -4.10 (-1.88%)NVDA NVIDIA Corporation 181.77 +1.94 (+1.08%)OKTA Okta, Inc. 91.56 +0.20 (+0.22%)SNOW Snowflake Inc. 194.35 -0.33 (-0.17%)UNH UnitedHealth Group Incorporated 300.43 -4.43 (-1.45%)Top economic eventsPowered by Money.com - Yahoo may earn commission from the links above.