Market chatter is building around a potential Grayscale spot AAVE ETF, but a clear, publicly posted registration filing has not surfaced in the usual places investors monitor for new ETF launches.
As of February 14, 2026, Grayscale’s own regulatory-filings portal lists “Grayscale Aave Trust” without a posted S-1 entry, even as multiple other single-asset trust products on the same page display S-1 registration statements and related updates.
Key Takeaways
- Claims of a Grayscale spot AAVE ETF filing are circulating, but a corresponding public registration document is not readily visible.
- Grayscale already offers AAVE exposure through its Grayscale Aave Trust, launched in 2024 for eligible accredited investors.
- Spot crypto ETF launches typically require both a securities-registration path and an exchange-listing approval process.
- Grayscale’s filings hub shows S-1 activity for several other crypto trust ETFs, highlighting what a typical paper trail looks like when filings are live.
What’s Confirmed vs. What’s Being Claimed
What is confirmed is that Grayscale runs an AAVE product today. In October 2024, CoinDesk reported that Grayscale rolled out a fund offering exposure to Aave’s AAVE token, and a Nasdaq-hosted press release described the vehicle as a single-asset trust aimed at eligible accredited investors.
What is not confirmed publicly, at least via Grayscale’s own filings portal, is an S-1 registration statement specifically tied to an AAVE spot ETF conversion or launch. The portal shows “Grayscale Aave Trust” without an S-1 link posted alongside it, which is the standard breadcrumb traders and analysts often use to validate ETF-registration progress.
How a Spot AAVE ETF Would Typically Get to Market
A spot crypto ETF generally follows two tracks: (1) a registration statement and prospectus that appears in the SEC’s EDGAR system, and (2) an exchange proposal to list and trade the shares under exchange rules. The SEC’s EDGAR framework is designed to give the public access to registration statements, prospectuses, and other disclosures used to research investment products.
For crypto-linked ETFs, the exchange track often involves a proposed rule change process. Investors usually see the paper trail evolve through public filings, agency acknowledgments, and a formal review timeline.
Grayscale’s Existing AAVE Exposure: The Aave Trust
Grayscale’s AAVE exposure currently centers on the Grayscale Aave Trust. On Grayscale’s fund page, the firm describes the product as an investment vehicle intended to provide exposure to AAVE via a security format, while referencing a CoinDesk Aave reference rate methodology for pricing.
That existing trust structure is important context because many spot-ETF “conversion” efforts in crypto have started with pre-existing trust products before seeking a broader exchange-traded wrapper.
Why the Filings Portal Matters for Verification
One reason analysts watch Grayscale’s regulatory-filings portal closely is that it frequently lists S-1 registration statements for various trust ETF products. The same page that lists “Grayscale Aave Trust” also displays S-1 documents for other crypto trust ETF efforts, creating a clear benchmark for what a posted filing looks like when it is publicly available.
In that context, the absence of a visible AAVE-linked S-1 entry on the portal does not prove a filing does not exist, but it does mean investors should treat “filed” claims cautiously until an SEC-facing document number or exchange filing can be independently identified.