Avalanche
Why Avalanche is up 1.0% in the last hour
Analysis
Avalanche (AVAX) rose about 1.0% over the last hour, likely reacting to headlines that the first Avalanche ETF has begun trading in the US. The Block reported that VanEck launched an AVAX fund, and Cointelegraph similarly noted VanEck’s expansion into a spot Avalanche product—news that can boost near-term sentiment and attention around AVAX.
Contributing Factors (2)
First Avalanche ETF hits US markets as VanEck launches AVAX fund
The first fund to track the Avalanche's AVAX token and include staking rewards debuted Monday with the launch of the VanEck Avalanche ETF.
VanEck expands crypto ETF lineup with spot Avalanche product
The newly launched fund offers exchange-traded exposure to AVAX as other proposed Avalanche ETFs remain under regulatory review.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.