Grayscale Applies to Convert AAVE Trust into ETF

Odaily News Grayscale has filed an application with the U.S. Securities and Exchange Commission (SEC) to convert its closed-end AAVE Trust into an exchange-traded fund (ETF), with plans to list on NYSE Arca. The ETF will charge a 2.5% NAV sponsor fee and will have Coinbase serve as the custodian and prime broker. (TheBlock)