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AVAX price nears $10 as Grayscale Avalanche ETF goes live

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AVAX price eyes breakout above $10 as Grayscale Avalanche ETF goes live - 1

AVAX price hovered near a key level on Thursday as the market reacted to the launch of a new exchange-traded fund tied to the token.

Summary

  • AVAX traded near the top of its weekly range as Grayscale’s Avalanche ETF started trading.
  • The new product gives traditional investors exposure to Avalanche and its staking rewards.
  • Traders are watching the $10 level, which has acted as a strong resistance zone.

At press time, Avalanche (AVAX) traded at $9.58, down about 0.8% over the past 24 hours. The token has moved between $8.82 and $9.87 over the past week and is now close to the top of that range.

AVAX has gained around 8.8% in the past month as buyers try to push the price higher again. Even so, the token is still about 47% lower than it was a year ago, after the long slide that hit much of the crypto market.

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Activity in the derivatives market cooled a bit during the last day. CoinGlass data shows futures volume dropping 26% to $489 million, while open interest slipped 4.41% to $432 million.

When both numbers fall at the same time, it often means some traders are closing positions while others wait for the next move.

Grayscale Avalanche ETF begins trading

The market is reacting to a new product from Grayscale Investments. The firm’s Grayscale Avalanche Staking ETF, trading under the ticker GAVA, began trading on March 12 on Nasdaq.

The fund first appeared as the Grayscale Avalanche Trust in August 2024. At that time it was only available through private placement for accredited investors. After a filing with U.S. regulators in 2025, the product was converted into a publicly traded exchange-traded product.

The ETF started trading with a net asset value of $23.33 per share and about $5.55 million in assets under management. It tracks the price of AVAX and also factors in staking rewards earned from the network. Staking on Avalanche returned roughly 7% on average in 2025, which is now reflected in the structure of the fund.

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Products like this often bring new attention to a token because they allow investors to gain exposure through traditional markets. Whether the ETF attracts large inflows will likely determine how much impact it has on AVAX price.

AVAX price technical analysis

On the chart, AVAX is slowly moving toward the $10 mark, which has acted as a strong barrier during previous rallies. The price is now close to the upper Bollinger Band near $9.8–$10, and traders are watching to see if it can push above that area.

AVAX price eyes breakout above $10 as Grayscale Avalanche ETF goes live - 1
AVAX daily chart. Credit: crypto.news

Volatility has been shrinking over the past several days as the Bollinger Bands move closer together. This type of setup often appears before a bigger move once price finally breaks out of the range.

AVAX has also moved back above its 20-day moving average near $9.1–$9.2. That level held during recent pullbacks and buyers stepped in each time the price approached it.

Momentum has improved as well. Slightly above the neutral zone, the relative strength index is currently at 53. Since the indicator is not yet in overbought territory, price movement is still possible if buying pressure persists. 

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Beginning early February, the chart has also started to show higher lows, a pattern that often appears when buyers slowly build positions.

Support is near $9.10–$9.20, while a deeper pullback could test the $8.40–$8.50 area. For now, the main level traders are focused on remains $10. A clear daily close above that line would be the first strong sign that AVAX may be turning upward after months of decline.

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BlackRock’s staked ether ETF draws $15 million in first-day trading

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Risk assets retreat as BTC, ETH prices drop further, dollar strengthens: Crypto Markets Today

BlackRock’s new staked ether (ETH) exchange-traded fund got off to a solid start Friday, pulling in more than $15 million in trading volume on its first day as Wall Street begins experimenting with yield-generating crypto ETFs.

The iShares Staked Ethereum Trust, trading under the ticker ETHB, launched with just over $100 million in assets and had already seen about $11 million in trading by early afternoon, according to Bloomberg ETF analyst James Seyffart. By late session, trading volume had climbed to roughly $15.5 million, suggesting strong initial demand for the product.

Those numbers are considered strong for an ETF launch, market watchers say.

“BlackRock’s Staked Ether ETF launched with just over $100 million in assets and has traded about $11.1 million through early afternoon,” Seyffart said on X, calling it “a pretty good start for any ETF.”

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The product marks a significant evolution in crypto exchange-traded funds. Unlike traditional spot crypto ETFs that simply track the underlying asset, ETHB will generate yield by staking ethereum, distributing most of the rewards back to investors. Staking refers to locking coins in a cryptocurrency network in return for rewards. This is losely analogous to investing in fixed income instruments like bonds.

According to the prospectus, the fund will stake between 70% and 95% of its ether holdings at any given time. About 82% of the staking rewards will be paid out to investors through monthly distributions, similar to how dividend-paying ETFs distribute income.

The remaining 18% will be allocated among the trust, custodians and staking service providers.

The fund charges a 0.25% sponsor fee, though BlackRock is offering a temporary discounted rate of 0.12% on the first $2.5 billion in assets as it seeks to attract early investors.

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ETHB is the latest addition to BlackRock’s growing digital assets ETF lineup. The firm already runs the iShares Bitcoin Trust (IBIT), which launched in January 2024 and quickly became the dominant bitcoin ETF, as well as the iShares Ethereum Trust (ETHA) introduced in July 2024.

Ethereum’s staking mechanism allows holders to lock up ETH to help secure the network in exchange for rewards, effectively creating a crypto-native yield. By packaging that yield inside an ETF wrapper, firms like BlackRock are attempting to make the structure accessible to traditional investors who cannot easily participate directly on-chain.

If staking ETFs gain traction, they may open the door to similar structures across other proof-of-stake networks — potentially turning crypto ETFs from passive exposure vehicles into income-generating financial instruments.

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Why is the crypto market going up today? (March 13)

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Why is the crypto market going up today? (March 13)

The crypto market rose 2.4% to $2.51 trillion on Friday primarily due to a shift in global risk sentiment following signals of potential de-escalation in the Middle East.

Summary

  • Crypto prices rebounded on Friday after crude oil prices retreated following multi-year highs.
  • A wave of short liquidations across leveraged markets and back-to-back inflows into major crypto ETFs also supported the recovery.

Bitcoin (BTC), the leading crypto asset by market cap, rallied nearly 4%, hitting close to the $72,000 mark. Ethereum (ETH) was up 4.3% over the past day, trading at $2,100 when writing. Other major crypto assets, such as BNB (BNB), XRP (XRP), Solana (SOL), and Dogecoin (DOGE), had also posted modest gains on the day.

It should be noted that today’s market rally was a standalone event as it detached from both the U.S. traditional stock indexes and tech stocks. The Dow Jones Industrial Average dropped by 739 points or 1.56% in U.S. trading hours, while tech-heavy stocks such as the S&P 500 and Nasdaq-100 fell by 103 and 431 points, respectively.

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The crypto market rallied as Investor risk-on sentiment improved after oil prices dropped sharply across the globe. Notably, Brent crude oil fell over 7% today, easing immediate fears of inflation and providing a more favorable environment for digital assets.

Short liquidations mount

As crypto prices rallied, it caught short sellers off guard, triggering liquidations of these highly leveraged positions. Data from CoinGlass shows that nearly $246 million was liquidated from leveraged markets, with the majority coming from short positions.

The total crypto market open interest also rose 5.2% on Friday, signalling that investors were injecting fresh capital into the market.

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ETF inflows and Coinbase premium

Inflows into spot ETF products have also supported the recent gains. According to data from SoSoValue, on Thursday, $53.87 had entered spot Bitcoin ETFs, which marks the fourth straight day of inflows for these funds. A similar trend was visible across their Ethereum counterparts, which have posted three back-to-back days of inflows.

At the same time, Coinbase Premium has also risen sharply over the past 24 hours, indicating that U.S. institutions are paying a premium over global prices to secure Bitcoin. Traders often view this as a strong bullish signal that institutional “smart money” is leading the current market charge.

Crypto market rallied following Trump’s recent comments

Crypto prices also benefited after U.S. President Donald Trump recently hinted that the ongoing war between the two countries may be coming to an end. 

This seemed to have calmed investor fears of a prolonged war, which in turn sparked a risk-on sentiment among investors who have begun moving capital from safe havens back into risk assets like crypto.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Bitcoiner Group to Fight Bitcoin’s Treatment as ‘Toxic Asset’

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Bitcoiner Group to Fight Bitcoin’s Treatment as ‘Toxic Asset’

The Bitcoin Policy Institute (BPI) says it will push the US Federal Reserve to change how Bitcoin is treated, as the central bank is set to issue rules on how banks should implement international guidelines for asset risk weighting.

“BPI will be reviewing this proposal closely and submitting a public comment to ensure that US regulators get Bitcoin’s treatment right,” Bitcoin Policy Institute managing director Conner Brown said in an X post on Wednesday. 

It comes just a day after the Fed announced it will issue a proposal for public comment on how US banks should implement risk-weighting guidance, which determines how risky different assets are on a bank’s balance sheet, from the Basel Committee on Banking Supervision.

Brown said Bitcoin (BTC) is “treated as a toxic asset under the Basel framework, a global standard for banking regulations.

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Source: Conner Brown

He added it carries a 1,250% risk weighting, which was “harsher than virtually all other asset classes.” 

“More efficient regulation” is the aim: Fed

Federal Reserve vice chair for supervision Michelle Boman said on Thursday that the agency will be proposing rules in the coming weeks to implement the final phase of Basel in the US.

Bowman said that the aim is “more efficient regulation and banks that are better [positioned] to support economic growth, while preserving safety and soundness.” 

The 1,250% capital requirement means that banks must back any Bitcoin on their balance sheets at a 1:1 ratio with approved collateral, making holding the cryptocurrency more costly than other asset classes. 

Cash, physical gold and government debt carry a 0% risk weight under the Basel framework.

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“The most punitive classification”: Bitcoin Policy Institute

Brown said in a blog post last month that the treatment of Bitcoin is the “most punitive classification” in the Basel Committee’s capital framework and a “category error.”

Related: Bitcoin hugs $70K range as March Fed rate cut odds fall below 1%

In 2021, the Basel Committee proposed placing crypto in its high-risk Group 2 set of assets. Group 2 holdings were restricted to under 1% of the value of their Group 1 holdings.

“This risk weighting makes it extremely difficult for banks to provide financial services to Bitcoiners and Bitcoin companies,” Brown said.

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