Grayscale Launches New Trust Offering Investors Exposure to DeFi Protocol Aave

The crypto asset management giant Grayscale has launched a new trust that offers investors exposure to the decentralized finance (DeFi) protocol Aave (AAVE).

cryptocurrency platform Aave (AAVE) has secured a new trust from crypto asset management firm Grayscale, providing investors with a fresh avenue to gain exposure to the decentralized finance (DeFi) protocol.

The crypto firm’s new product is entirely invested in Aave’s native token, functioning similarly to Grayscale's other single-asset trusts. Aave, launched in 2017, endeavors to serve as a decentralized liquidity protocol for both lenders and borrowers.

According to a press release, Rayhaneh Sharif-Askary, Grayscale's head of product and research, highlights the project's potential to "revolutionize traditional finance."

"By harnessing blockchain technology and smart contracts, Aave's decentralized platform aims to optimize lending and borrowing processes while eliminating intermediaries and minimizing reliance on human judgment."

In a bid to diversify its investment offerings, Grayscale has swiftly launched a range of new products, including trusts for the payments altcoin XRP, layer-1 Ethereum (ETH) competitor Avalanche (AVAX), DeFi platform Maker (MKR), machine learning marketplace Bittensor (TAO), and smart contract platform Sui Network (SUI).

AAVE is currently trading at $142.49 at the time of writing, with the 43rd-ranked crypto asset by market cap clocking in gains of almost 4% in the past 24 hours. This outpaces the broader crypto market cap, which is down by 1.6%. However, AAVE is still down by nearly 14% in the past seven days.

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