Grayscale opened in-kind subscriptions for ten of its crypto funds on October 21, among them the Avalanche Staking ETF under the ticker GAVA. Anyone wanting to swap fund shares for AVAX needs roughly $235,800 for it, according to the provider, plus an authorised market participant as intermediary. For retail investors in Germany nothing changes immediately, because the fund cannot be traded here.

The announcement is interesting for another reason: it falls in a week in which no fresh money at all flowed into the Avalanche funds and the price gave way sharply. Avalanche trades at $8.92, the equivalent of 7.96 euros, and is therefore 10.34 percent below where it stood seven days ago. Those are CoinGecko figures as of Saturday, 13:00….