Grayscale filed to convert its AAVE Trust into a spot ETF on NYSE Arca.
The proposed ETF carries a 2.5% sponsor fee and uses Coinbase as custodian.
The filing reflects growing institutional interest in DeFi-linked investment products.
Grayscale has filed with the U.S. Securities and Exchange Commission to convert its AAVE Trust into a spot exchange-traded fund that would list on NYSE Arca. The move marks another step in the asset manager’s strategy to bring crypto-native products into regulated ETF structures.
The filing arrives as institutional interest in decentralised finance grows. Grayscale’s proposal focuses on AAVE, the native token of the Aave protocol, which dominates decentralised lending within DeFi.
AAVE currently holds a market capitalization near $1.8 billion and trades at around $119, reflecting a roughly 9% daily gain. The token reached an all-time high of $661.69 in April 2021, underscoring its volatility and growth history.
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