Asset manager Grayscale Investments launched a new investment fund for MakerDAO’s governance token MKR, according to a press release dated August 13. The announcement states that the Grayscale MakerDao Trust offers investors the opportunity to invest in MKR, the utility and governance token for the Ethereum-based autonomous organization MakerDAO. The fund, which is not traded on the exchange and is only open to qualified investors, is added to Grayscale’s suite of single-asset crypto investment products.
Grayscale Team Takes Notable Step
Grayscale launched two more funds on August 7 to invest in the native protocol tokens of Bittensor and Sui. As of August 1, Grayscale is the world’s largest crypto fund manager with over $25 billion in assets under management (AUM).
The company is best known for its exchange-traded funds (ETFs) for Bitcoin (BTC) and Ethereum (ETH), including the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). Grayscale also operates dedicated single-asset funds for other protocol tokens such as Basic Attention Token (BAT) and Chainlink (LINK).
MakerDAO serves as a decentralized finance (DeFi) protocol and issuer of the USD-pegged stablecoin DAI, and it also operates an ecosystem of on-chain credit products. MakerDAO announced in July that it plans to invest $1 billion in tokenized US treasury bonds.
Statements on the Subject
Grayscale’s head of product and research, Rayhaneh Sharif-Askary, stated that the Grayscale MakerDAO Trust team allows investors to experience the growth of the entire MakerDAO ecosystem and added:
“Grayscale is committed to expanding our product lineup and offering innovative investment opportunities.”
Grayscale’s global head of ETFs, Dave Lavalle, predicted during a webinar on August 12 that the market for crypto ETFs will expand to include new types of crypto assets as well as diversified crypto indexes, and he added:
“We will see a few more single-asset products and then definitely some index-based and diversified products.”
