Grayscale filed to convert its Aave trust into an ETF listed on NYSE Arca under the ticker GAVE.
The proposed ETF will hold AAVE tokens directly and charge a 2.5% sponsor fee.
Grayscale joins Bitwise in competing to launch the first U.S.-listed Aave ETF.
Grayscale has filed to convert its Aave trust into an exchange-traded fund, signaling renewed institutional interest in altcoins. The crypto asset manager submitted a Form S-1 registration statement with the U.S. Securities and Exchange Commission on Friday, seeking approval to rename the product the Grayscale Aave Trust ETF.
The firm plans to list the ETF on NYSE Arca under the ticker “GAVE.” Grayscale will charge a 2.5% sponsor fee based on net asset value, payable in AAVE tokens. Coinbase will act as custodian and prime broker for the proposed fund.
The filing reflects growing competition in altcoin investment products. Grayscale now aims to offer direct exposure to Aave, the leading decentralized lending protoco
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