VanEck’s pioneering U.S. spot Avalanche (AVAX) exchange-traded fund debuted to a tepid reception, recording zero investor inflows and only $330,000 in trading volume. This starkly contrasts with the successful launches of other single-asset altcoin ETFs, highlighting the deeply negative sentiment plaguing the broader crypto market and AVAX specifically in early 2026.
The recent launch of VanEck‘s U.S. spot Avalanche [AVAX] ETF saw zero inflows and a paltry $330,000 in trading volume. For comparison, Bitwise‘s Solana [SOL] ETF recorded $69 million in inflows after its late October launch.
Canary Capital‘s spot XRP ETF attracted $245 million on its first day in mid-November. Grayscale‘s Chainlink [LINK] ETF also saw a stronger debut with $41 million in inflows.
Bloomberg analyst James Seyffart said the top 20 crypto assets will likely see at least one single ETF. He stated he was more “bullish on index products.”
The debut coincided with ‘extreme fear’ on AVAX‘s Fear and Greed Index, which registered a score of 20. Speculative interest has remained severely depressed since a market-wide crash in October.
Open Interest for AVAX futures collapsed from nearly $1 billion to under $200 million. The altcoin’s price has struggled within a late 2025 range of $11 to $15.
It bounced only 2% following the ETF news, continuing to test the range’s lower support near $11. A break below this level could signal a deeper correction toward prices under $10.
