Grayscale has submitted an updated S-1 filing to the U.S. Securities and Exchange Commission (SEC) to convert its Avalanche Trust into a spot exchange-traded fund (ETF). The proposed ETF aims to list on Nasdaq under the ticker GAVX. Currently, the trust holds $7.1 million in assets, with Grayscale as the sole sponsor and Coinbase managing brokerage services. The filing introduces in-kind creation and redemption mechanisms, a standard feature for ETFs, which allows for more efficient trading and management of the fund. This move is part of Grayscale's broader strategy to integrate cryptocurrency products into traditional financial markets, as highlighted by the KuCoin listing announcement.