Available for “eligible individual and institutional accredited investors,” the firm said in a statement that the Grayscale Ave Trust is a trust. Using smart contracts, the distributed finance crypto platform Aave lets investors borrow and lend cryptocurrencies.

Said Grayscale’s Head of Product & Research, Rayhaneh Sharif-Askary, in a statement, “Grayscale Aave Trust exposes investors to a protocol with the potential to transform traditional finance.” Aave’s distributed platform seeks to maximize lending and borrowing by using blockchain technology and smart contracts, therefore eliminating middlemen and lessening reliance on human judgment.

Over the past year, Grayscale has opened several crypto funds—more especially, spot Bitcoin and Ether ETFs. In January, the SEC approved multiple spot Bitcoin ETFs from companies including BlackRock, Grayscale, and Fidelity. Later, the agency approved eight Ethereum ETFs.

Now other companies are fighting to introduce other spot crypto ETFs, one from Bitwise tracking XRP. Grayscale separately stated it intends to open an XRP “closed-end” fund for qualified investors.

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