Grayscale launches its own AAVE trust

Grayscale Investments has launched the Grayscale Aave Trust, offering accredited investors a new way to gain access to AAVE, Aave’s native token.

This trust allows investors to indirectly benefit from Aave’s lending protocol, which has become the largest in the decentralized finance industry in terms of total value locked, according to the Grayscale press release. The trust functions like Grayscale’s other single-asset investment trusts, meaning it only invests in AAVE (AAVE) tokens.

Aave is a decentralized lending platform that allows users to borrow and lend cryptocurrency without intermediaries such as banks. It uses smart contracts (automated programs that execute transactions) on the Ethereum (ETH) blockchain. This setup makes borrowing more accessible by eliminating the need for a credit check.

According to the press release, the firm’s private placements, including Aave Trust, are available only to accredited investors via daily subscription.

Aave’s platform is known for its transparency and impartiality. It allows users to borrow and borrow crypto assets with minimal human involvement.

At the time of this writing, AAVE’s price was $140.90.

Grayscale’s other crypto moves

On September 12, Grayscale launched the XRP Trust, which offers investors access to XRP (XRP), the token used on the XRP Ledger. On September 11, Grayscale also announced the Sui (SUI) Trust.

Rayhaneh Sharif-Askary, Head of Product and Research at Grayscale, believes Aave’s decentralized approach has the potential to transform finance by eliminating intermediaries and human biases.

“Grayscale Aave Trust introduces investors to a protocol that has the potential to revolutionize traditional finance. “By leveraging blockchain technology and smart contracts, Aave’s decentralized platform aims to optimize lending and borrowing while eliminating intermediaries and reducing dependence on human judgment.”

Rayhaneh Sharif-Askary

In August, Avalanche’s native token, AVAX (AVAX), rose 12% after Grayscale launched the Avalanche Trust. This signaled a potential trend reversal after a prolonged decline; The token has rebounded 48% in two weeks after hitting a nine-month low.