Grayscale Launches Grayscale MakerDAO Trust Fund for MKR Investors

Grayscale Launches New MakerDAO Trust Fund

Grayscale, the prominent asset management firm renowned for its bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs), has announced the introduction of a new investment vehicle. This fund focuses on the governance token of the decentralized lending platform MakerDAO (MKR). The Grayscale MakerDAO Trust is now available to eligible individual and institutional accredited investors, marking a significant addition to Grayscale’s portfolio of crypto investment products.

According to a recent press release, the structure of the Grayscale MakerDAO Trust mirrors that of the firm’s other single-asset trusts. It operates as a closed-end fund, which means that investors are unable to make direct withdrawals. This structure has the potential to create price discrepancies between the fund’s shares traded on secondary markets and the actual value of the underlying asset.

MakerDAO stands as one of the largest and most influential protocols in the decentralized finance (DeFi) space. It is governed by a community of MKR token holders who actively participate in decision-making processes and vote on various proposals. The protocol manages an impressive portfolio exceeding $7 billion, which includes both crypto assets and real-world assets (RWA), such as U.S. Treasuries. Additionally, MakerDAO issues DAI, the third largest stablecoin in the cryptocurrency market, with a market capitalization of around $5 billion.

Currently, MakerDAO is undergoing a significant transformation known as the “End Game,” a concept introduced by its founder, Rune Christensen. This major revamp includes plans for updated versions of both the MKR and DAI tokens, aiming to enhance the protocol’s functionality and governance.

This latest offering from Grayscale follows the recent launch of single-asset funds dedicated to the decentralized artificial intelligence (AI) project Bittensor’s TAO token and the layer-1 blockchain Sui (SUI) just last week. Furthermore, the company had previously unveiled a decentralized AI-focused fund that invests in a diverse basket of cryptocurrencies, including near (NEAR), render (RNDR), and filecoin (FIL), approximately a month ago.