Grayscale Launches Aave Trust, Driving AAVE Price Above $140
- The Grayscale website states that the current net asset value (NAV) per share is $13.88.
- The asset under management (AuM) for the fund is $151,281.
After Grayscale announced the launch of its Grayscale Aave Trust, the price of AAVE has started to rise again. Institutional investors will have the opportunity to invest in the decentralized finance (DeFi) token via this fund. As a result, the tokens adoption will increase dramatically, which may cause more price increases down the road.
After Grayscale announced the launch of the Aave Trust, the top DeFi coin increased in price and surpassed the $140 level. As part of a larger wave of selling in the cryptocurrency market, the price of AAVE had fallen to $135. A price rebound is already in the cards, however, because of the latest development that has sparked interest in the token.
Closed-end Single-asset Investment Trust
A press statement was issued by Grayscale announcing the establishment and public debut of the Aave Trust. Investors will have the chance to acquire AAVE, the governance token of the DeFi protocol Aave, via the trust.
In addition, Grayscale made an announcement stating that qualified individuals and approved institutions may now subscribe to the trust on a daily basis. All of Grayscales previous closed-end single-asset investment trusts are going to be quite similar to the Aave Trust. Consequently, it is not invested in a diversified portfolio but rather in the AAVE token only.
The Grayscale website states that the current net asset value (NAV) per share is $13.88. The asset under management (AuM) for the fund is $151,281. With the launch of more than 20 crypto funds, Grayscale maintains its position as the industry leader in providing crypto investment products. Among these are its Spot Ethereum and Bitcoin ETFs, which were transformed from closed-end funds into Spot ETFs.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
