Grayscale Applies for ETF Conversion of AAVE Trust

Grayscale submitted an application to the U.S. Securities and Exchange Commission (SEC) on February 14 to convert its AAVE Trust into an ETF, as revealed in SEC disclosure documents. Bitwise had previously submitted applications for 11 ETFs in December, marking a significant escalation in the competition surrounding the AAVE ETF. AAVE is the native token of the Aave protocol, serving as one of the leading lending platforms in decentralized finance (DeFi). AAVE is popular as an investment product, with offerings including a DeFi-focused index product, the 21Shares AAVE ETP traded in Europe, and the Global X AAVE ET...