Étienne Girard
Grayscale Investments has introduced a new fund that offers investors access to the AAVE governance token, the firm announced on Thursday.
The new offering, called the Grayscale Aave Trust, is designed for “eligible individual and institutional accredited investors,” according to the company’s statement. Aave is a decentralized finance (DeFi) platform that facilitates crypto lending and borrowing through smart contracts, providing a decentralized alternative to traditional financial services.
We are proud to announce the creation of a new single-asset crypto investment fund, Grayscale $AAVE Trust, which will be available through private placement.
Available to eligible accredited investors.
Read the press release: https://t.co/cJf6spWdnh pic.twitter.com/YMFftGnSCE
— Grayscale (@Grayscale) October 3, 2024
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, highlighted the potential of the Aave platform to transform traditional finance. “The Aave Trust gives investors exposure to a protocol with the potential to revolutionize the financial sector,” Sharif-Askary said. “By utilizing blockchain technology and smart contracts, Aave’s decentralized platform seeks to improve lending and borrowing processes by eliminating intermediaries and minimizing reliance on human oversight.”
Grayscale has consistently expanded its crypto offerings, including launching several spot Bitcoin and Ether ETFs over the past year. In January, the SEC approved multiple spot Bitcoin ETFs from firms like BlackRock, Grayscale, and Fidelity. Following that, the agency also greenlit eight Ethereum ETFs.
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Meanwhile, other asset managers are working on bringing more spot crypto ETFs to market, including Bitwise, which plans to introduce a fund tracking XRP. In a separate announcement, Grayscale revealed its intentions to launch an XRP “closed-end” fund for accredited investors.
