The role of AAVE is shifting from a protocol token to a portfolio asset.

Originally, AAVE was a typical utility token, with its value closely tied to the depth of protocol usage. But if it enters the ETF track, it will gradually take on a different identity: a macro allocation tool.
What does this mean? It means it could be included in a "digital asset basket," compared, weighed, and rebalanced alongside other assets. The factors influencing its price will expand from on-chain data to macroeconomic environments and capital cycles.
This is a double-edged sword:
 The benefit is a broader funding landscape and higher recognition;
 The challenge is increased correlation, potentially making it more affected by overall market sentiment.
From an industry perspective, this is part of the crypto assets moving into the mainstream financial system. More and more protocol tokens may be redefined along this path.
In the long run, those who truly benefit are projects with solid fundamentals that can generate real demand. Financialization amplifies value but also amplifies screening.
A final note: being integrated into the mainstream system is both an honor and a test.
Interaction: Do you think AAVE is better suited as a trading asset or a portfolio asset?
#灰度拟将AAVE信托转为现货ETF