Grayscale Files to Convert AAVE Trust into Spot ETF for NYSE Arca Listing

Grayscale filed with the U.S. SEC to convert its closed-end AAVE trust into a spot ETF, ChainCatcher reports citing The Block. The fund is planned for listing on NYSE Arca. The ETF will charge a 2.5% sponsorship fee on net asset value paid in AAVE, with Coinbase serving as custodian and prime broker.