#GrayscaleEyesAVESpotETFConversion

‍#我在Gate广场过新年
As of February 2026, Grayscale is moving aggressively to convert its single-asset trusts into spot ETFs, following the blueprint set by GBTC (Bitcoin) and ETHE (Ethereum).
In February 2026, Grayscale officially moved to convert its Aave Trust into a Spot Aave ETF.
Similar to previous conversions, this aims to eliminate the "discount to NAV" (Net Asset Value) and allow for easier creation and redemption of shares on a major exchange.
The proposed ETF features a 2.5% annual sponsor fee
Grayscale’s 2026 "Institutional Era" Strategy

Grayscale isn't stopping at Aave. They have filed a flurry of applications in early 2026 to convert several other products:

Aave Trust AAVE Pending (Filed Feb 2024)

Near Trust GSNR Pending (Filed Jan 2026)

BNB Trust GBNB Pending (Filed Jan 2026)

Digital Large Cap GDLC Pending (Multi-asset ETF conversion)
Why This Matters

In a historic first for the U.S. market, Grayscale’s Ethereum ETF (ETHE) began distributing staking rewards to shareholders in January 2026. This has set a massive precedent for future altcoin ETFs (like Aave or Near) to potentially offer "yield" alongside price exposure.

These filings suggest Grayscale believes the SEC's "wall" against altcoin ETFs has finally crumbled, moving past just the "Big Two" (BTC/ETH).

While the filings are active, "conversion" isn't instantaneous. The SEC typically has a standard review period (often up to 240 days) to approve or deny the rule changes required for these trusts to list as ETFs.
‍$AAVE