Grayscale Avalanche Staking ETF
GAVA
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- Grayscale Avalanche Trust ETF Common Units of Fractional Undivided Beneficial Interest (GAVA) is a closed-end fund managed by Grayscale Investments, LLC that provides investors with exposure to the native token of the Avalanche blockchain network (AVAX) through a traditional investment vehicle without direct cryptocurrency custody. The Trust's primary product is its common units of fractional undivided beneficial interest, traded on OTC Markets under the ticker GAVA, which represent indirect ownership of AVAX held by the Trust; it offers creation and redemption baskets for authorized participants, daily indicative NAV calculations based on the CoinDesk AVAX USD Reference Price, and reporting of AVAX Holdings per Share, but does not currently pay distributions. Geographically, the Trust operates primarily in the United States, with Grayscale Investments headquartered in Stamford, Connecticut, and was established in 2024 as part of Grayscale's expansion into single-asset trusts for major cryptocurrencies. In late 2024, Grayscale Investments launched the Trust following approval from the New York Stock Exchange Arca for listing and trading, marking a strategic shift to broaden access to Avalanche's high-throughput, scalable layer-1 blockchain ecosystem amid growing institutional demand for tokenized assets; this followed significant inflows into Grayscale's broader crypto investment products and aligned with Avalanche's ecosystem developments, including partnerships with firms like Stripe and Amazon Web Services for Web3 infrastructure. The Trust targets sophisticated investors, financial advisors, and institutions seeking regulated exposure to AVAX, which powers decentralized applications, subnets, and DeFi protocols on Avalanche's proof-of-stake network serving global markets.