Grayscale announced the launch of its AAVE single-asset Trust fund. The AAVE Trust will be available only to eligible customers and offers exposure to AAVE's price. AAVE is down 4% following the announcement. Aave (AAVE) declined 4% on Thursday after asset manager Grayscale announced the launch of a new digital asset fund, offering exposure to the price of the Ethereum decentralized finance token. AAVE down despite launch of Grayscale Trust Fund In an announcement on its X account, asset manager Grayscale unveiled its latest Trust Fund for the Aave protocol's native token AAVE. The Grayscale AAVE Trust is a single-asset investment product that gives customers exposure to the price of AAVE and will only be available to eligible investors. Aave is a DeFi protocol on the Ethereum blockchain that allows users to lend and borrow cryptocurrencies without intermediaries. The Aave Trust is now open for daily subscription to eligible individual and institutional accredited investors. It will also function similarly to other Grayscale single-asset investment trusts.