Grayscale, the cryptocurrency fund giant, has announced the launch of the Grayscale Aave Trust, which will provide exposure to the AAVE token, strengthening its position in the digital assets market. A new product which is part of a broader diversification strategy after the success of its flagship funds focused on Bitcoin and Ether.
Grayscale unveils a fund dedicated to the Aave token to strengthen its crypto offering
Grayscale, the leading asset manager specializing in cryptocurrencies, just launched a new fund called Grayscale Aave Trust.
This product, aimed at accredited institutional investors, aims to provide direct exposure to AAVE, the governance token of the eponymous decentralized finance (DeFi) protocol. This launch reinforces the company's diversification strategy and complements an already well-rounded portfolio of more than 20 investment products, including funds on Bitcoin (the famous GBTC), Ethereum's ETH and more recently on Ripple’s XRP.
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The initiative is part of a series of new offerings from Grayscale to attract institutional investors, particularly in the context of the Securities and Exchange Commission's (SEC) approval of Bitcoin-based ETFs.
According to Rayhaneh Sharif-Askary, product and research manager at Grayscale, this fund provides access to a project with the potential to “ revolutionize traditional finance » thanks to its DeFi platform, whose total value locked (TVL) recently approached $12 billion.
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A reinforced diversification strategy for the cryptocurrency giant
This launch comes just a few weeks after the launch of the Grayscale Avalanche Trust, a fund based on the AVAX token, or its more recent funds based on SUI or even XRP. The company, which is already behind the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE), seeks to meet a growing demand for financial products tracking the performance of major cryptocurrencies.
However, this fund is not accessible to all investors. As with the majority of Grayscale products, only investors meeting the criteria of “Accredited Investor” can subscribe to this trust.
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This includes requirements for high annual income or net worth over $1 millionthus limiting its access to institutional clients or individuals with substantial financial means.
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Source: Official press release
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