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The proposed ETF, managed by Grayscale, seeks to transition the existing Grayscale Avalanche Trust into a regulated investment product, offering easier access to $AVAX for institutional and retail investors.

As part of the agreement, Galaxy Digital will pay the settlement in four instalments over three years.

The crypto market is shifting as tokens like $ETH, $IMX and $FLOKI gain traction from upgrades, regulations, and trends.