Grayscale Investments has officially filed a request with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Aave Trust into a spot Exchange-Traded Fund (ETF). The firm aims to list the converted fund on the NYSE Arca exchange, according to recent regulatory filings. This move follows Grayscale’s established pattern of transitioning its digital asset investment trusts into spot ETFs, a strategy successfully executed previously with its Bitcoin and Ethereum trusts. If approved, the Grayscale Aave ETF would provide both institutional and retail investors with a regulated means of gaining exposure to AAVE, the native utility and governance token of the Aave decentralized finance protocol. This development highlights the ongoing efforts by major asset managers to broaden the range of cryptocurrency investment products available on traditional stock exchanges.
Source: Grayscale files to convert AAVE token trust into ETF to list on NYSE Arca
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