Grayscale: Application to Convert Aave Trust to ETF

The cryptocurrency asset management company Grayscale has submitted an S-1 registration statement to the SEC, planning to convert its Aave Trust into the Grayscale Aave Trust ETF.

The fund plans to list on NYSE Arca under the ticker symbol "GAVE," with a management fee of 2.5%. Coinbase will serve as its custodian and primary broker. Previously, Bitwise also applied to launch a similar Aave ETF.