Grayscale Investments announced Thursday the debut of its Grayscale Avalanche Staking ETF, GAVA, now trading on Nasdaq. This new exchange-traded product provides investors access to the Avalanche ecosystem.
The fund aims to offer exposure to AVAX, the native token of the Avalanche network, and incorporate staking rewards generated through its Proof of Stake consensus model.
Grayscale's Senior Vice President of ETFs, Inkoo Kang, stated the launch addresses growing investor demand for accessible investment vehicles blending digital assets with traditional portfolios. GAVA expands Grayscale's digital asset product line, previously launched as a private placement in August 2024.
"GAVA complements our existing suite of more than 40 digital asset products and provides investors with the ability to gain exposure to one of the market’s leading smart contract platforms," Kang noted.
Avalanche is a smart contract platform engineered to enhance blockchain capabilities by distributing core functions across multiple chains for transactions, smart contracts, and network coordination.
John Wu, President of Ava Labs, highlighted Avalanche's design for real-world applications and enterprise adoption, emphasizing its customizable architecture for performance, security, and control.