Grayscale Investment has officially launched the Grayscale Aave Trust, which provides investors with exposure to the governance token AAVE. This announcement was made by the asset management firm on Thursday. The trust is available to eligible individual and institutional accredited investors.
The Aave platform operates as a decentralized finance (DeFi) crypto platform, enabling users to borrow and lend cryptocurrencies via smart contracts.
According to Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, "The Grayscale Aave Trust gives investors exposure to a protocol with the potential to revolutionize traditional finance." She further explained that Aave's decentralized platform utilizes blockchain technology and smart contracts to enhance lending and borrowing while minimizing intermediaries and reliance on human judgment.
In the past year, Grayscale has expanded its offerings, launching various crypto funds, including spot bitcoin and ether ETFs. The U.S. Securities and Exchange Commission (SEC) approved several spot Bitcoin ETFs in January from notable firms like BlackRock, Grayscale, and Fidelity, followed by the approval of eight Ethereum ETFs.
Other companies are also looking to introduce additional spot crypto ETFs, including one from Bitwise that tracks XRP. Moreover, Grayscale plans to launch an XRP closed-end fund specifically for accredited investors.
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