Grayscale Investments has launched a fund for investing in AVAX.

Grayscale Investments announced the launch of a new product, the Grayscale Avalanche Trust. This is an exchange-traded fund for investing in the AVAX token.

According to the announcement, the product is already available to accredited investors. Like other exchange-traded funds with a single underlying asset, it is a closed-end trust, meaning funds cannot be withdrawn directly.

"The launch of this fund underscores Grayscale's commitment to providing investors with innovative opportunities to access exciting developments in the crypto ecosystem. Through its partnerships and unique structure, Avalanche plays a key role in advancing the tokenization of RWAs," said Grayscale Investments executive Rahsaan Sharif-Askari.