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Asset management giant Grayscale has formally requested US regulatory approval to convert its Aave investment trust into an exchange-traded fund.
Digital asset investment products saw a marked slowdown in outflows last week, which totalled $187 million.
Outflows from digital asset investment products surged to a 15-month high last week, with US$1.73 billion exiting the market.
Reports from Nikkei Asia indicate Japan will clear its first set of cryptocurrency exchange-traded funds around 2028.
Asset manager Grayscale has submitted an application to the US Securities and Exchange Commission to convert its NEAR Protocol Trust into an exchange-traded fund.

"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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