Avalanche (AVAX) rallied about 11% after Grayscale updated its S‑1 to convert its Avalanche Trust into a spot AVAX ETF that may stake up to 70% of holdings and pass rewards to investors. VanEck also updated its Avalanche ETF filing to include staking and Bitwise has applied for altcoin ETFs including AVAX. On‑chain and ecosystem milestones (Whitewallet launch, TheGrottoL1 mainnet, Avalanche 9000 cohort, C‑Chain >400M transactions) plus a ~140% 24‑hour volume surge (~$546M) added momentum. Technically AVAX broke above short‑term MAs and is testing resistance at $13.20–$13.50; holds above $13.20 targets ~$15.60 and $20.00, while failure could pull back toward $12.32.

Grayscale updated its S‑1 to convert the Avalanche Trust into a spot AVAX ETF with up to 70% staking that would pass rewards, VanEck updated its filing to include staking, and Bitwise applied for altcoin ETFs including AVAX — concrete institutional ETF activity. Concurrent on‑chain adoption milestones and a 140% jump in 24‑hour volume (~$546M) coincide with a technical breakout above short‑term moving averages and current resistance at $13.20–$13.50, supporting a bullish near‑term outlook.