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Home»ALTCOIN NEWS»Crypto asset management giant Grayscale launches new trust in DeFi protocol Aave
ALTCOIN NEWS

Crypto asset management giant Grayscale launches new trust in DeFi protocol Aave

By Crypto FlexsOctober 5, 20242 Mins Read
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Crypto asset management giant Grayscale launches new trust in DeFi protocol Aave
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Crypto asset management giant Grayscale has launched a new trust that provides investors with exposure to the decentralized finance (DeFi) protocol Aave (AAVE).

The cryptocurrency company’s new product invests only in Aave’s native tokens and functions like the company’s other single-asset trusts.

Launched in 2017, Aave aims to serve as a decentralized liquidity protocol for lenders and borrowers. Rayhaneh Sharif-Askary, head of product and research at Grayscale, said in a press release that the project has the “potential to revolutionize traditional finance.”

“Aave’s decentralized platform aims to leverage blockchain technology and smart contracts to optimize lending while eliminating intermediaries and reducing reliance on human judgment.”

To diversify its investment products, Grayscale recently launched a trust for the payments altcoin This is the smart contract platform Sui Network (SUI).

AAVE is trading at $142.49 at the time of this writing. The 43rd-largest cryptocurrency asset by market capitalization rose nearly 4% in the last 24 hours, outpacing the overall cryptocurrency market cap, which fell 1.6%. However, AAVE remains down nearly 14% over the past seven days.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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