Grayscale Aims to Launch Aave ETF on NYSE Arca

Grayscale teams up with Bitwise to propose an Aave product in the US, confident that Wall Street still favors altcoins.

Grayscale has taken a significant step by submitting a proposal to transform its Aave trust into an exchange-traded fund (ETF) on NYSE Arca. This initiative aligns with a similar move by Bitwise, as both firms seek to introduce a dedicated Aave product to the U.S. market.

The decision underscores Grayscale's confidence in Wall Street's continued interest in alternative cryptocurrencies, often referred to as altcoins. By venturing into this space, Grayscale aims to capture the growing demand for diverse crypto investment options among institutional and retail investors alike.