Grayscale: Files Application to Convert Aave Trust into ETF

Odaily News: Cryptocurrency asset management firm Grayscale has filed an S-1 registration statement with the SEC, planning to convert its Aave Trust into the Grayscale Aave Trust ETF. The fund is slated to list on NYSE Arca under the ticker symbol "GAVE," with a management fee of 2.5%. Coinbase will serve as its custodian and prime broker. Previously, Bitwise also applied to launch a similar Aave ETF. (cointelegraph)