Introduction of VanEck’s ETP
Global asset manager VanEck has officially introduced an exchange-traded product (ETP) in the United States that tracks the performance of Avalanche’s native token, AVAX. This innovative product, identified as VAVX, stands out as the first spot Avalanche ETF available for trading on US exchanges.
It not only provides direct price exposure to AVAX but also offers potential staking returns, which could enhance investor gains. To make the investment more enticing, VanEck is waiving sponsor fees for the ETF on the first $500 million of assets until February 28; any assets surpassing this cap will incur a 0.20% fee once the waiver period concludes. This initiative is part of a broader trend allowing institutional investors and wealth managers to gain access to Avalanche’s opportunities without delving into the complexities of validator infrastructure.
Avalanche Overview
Avalanche, a blockchain platform aimed at facilitating decentralized applications and smart contracts, was launched in September 2020 by Ava Labs, founded by Emin Gün Sirer, a computer scientist from Cornell University. Currently, AVAX is valued at approximately $11.77, with a market cap of around $5.08 billion; however, this is significantly below its peak value of $144.96 achieved in November 2021, and the token has faced a steep decline over the past year.
The push for this ETF began as early as March 2025, when VanEck filed an S-1 registration with US regulators, followed by Nasdaq’s application to list it, marking a significant stride toward regulatory approval for such financial instruments.
Valour’s New Offerings in the UK
In a related development, the UK branch of DeFi Technologies, known as Valour, has received the green light from the UK Financial Conduct Authority (FCA) to introduce Bitcoin and Ethereum staking ETPs catering to retail investors on the London Stock Exchange. This regulatory approval is pivotal, coming after the FCA lifted its ban on retail crypto ETPs, thereby opening up the market.
The new offerings, branded as 1Valour Bitcoin Physical Staking and 1Valour Ethereum Physical Staking, officially launched this week and are designed specifically to provide retail investors with straightforward, transparent access to the staking opportunities within the digital asset ecosystem.
Valour’s Strategic Expansion
Valour’s CEO, Johan Wattenström, has reiterated the significance of these approvals, indicating that they will bolster the company’s presence in one of the world’s most vital financial markets. Notably, this new introduction builds upon Valour’s previous plans, which included a Bitcoin staking ETP aimed at professional investors launched earlier but now has pivoted to be more inclusive for retail participants following regulatory changes in October.
Valour is also looking to broaden its reach, as evidenced by its recent inclusion of a Solana-based ETP in Brazil.
Market Context
The London Stock Exchange currently hosts over 2,300 ETPs from more than 50 issuers, with crypto ETPs alone contributing approximately $280 million in trading volume recently. Nonetheless, the cryptocurrency market has encountered challenges, including significant outflows reported by CoinShares amounting to $1.7 billion last week, attributed to waning expectations for interest rate cuts and overall negative market sentiment regarding digital assets amid disappointing performance amid currency value trends.
