As Avalanche (AVAX), founded by Emin Gün Sirer, continued to grow with new partnerships, it also attracted the attention of institutional investors.
It has been claimed that Grayscale, the largest crypto money fund, which is the gateway to institutional investors to cryptocurrencies, is making preparations to launch a new fund called Avalanche Trust.
The record, which was created with the file number 6359722, created great excitement among AVAX investors.
As with previous submissions, this record provides no certainty that Grayscale will launch the AVAX fund. Although there is a preparation at this point, it is not known whether Grayscale will release this fund.
However, even this preparation process shows that AVAX is attracting the attention of big players.
Currently, AVAX, the 13th largest cryptocurrency with a market cap of $17 billion, continues to trade at $77.
As we stated in our analysis dated October 21, AVAX is taking firm steps forward on its $100 journey.
With today’s move, we see that AVAX, which has reached $80.91 and refreshed its ATH, is moving within an ascending channel. If we see a daily close above $76.50, we can see that the uptrend continues.
*Not Investment Advice.