On August 13, Grayscale Investments, a major player in the crypto world, announced the launch of a new investment fund focused on MakerDAO’s governance token, MKR. This new fund, called the Grayscale MakerDAO Trust, is designed to give investors a chance to invest in MKR, the utility and governance token of the MakerDAO ecosystem. MakerDAO is known for its decentralized finance (DeFi) services and the Dai stablecoin, which is pegged to the U.S. dollar.
Not for Everyone
The fund is not available on exchanges and is only open to qualified investors. It’s part of Grayscale’s growing list of single-asset crypto investment products. Just a week before, on August 7, Grayscale launched two other trusts focused on Bittensor and Sui protocol tokens.
Grayscale’s Leading Role in the Crypto Industry
Grayscale is the largest crypto fund manager globally, managing over $25 billion in assets as of August 1. The company is particularly known for its Bitcoin and Ether exchange-traded funds (ETFs), including the popular Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
MakerDAO doesn’t just issue Dai; it also runs a range of onchain credit products. Recently, in July, MakerDAO revealed plans to invest $1 billion in tokenized U.S. treasury bonds, showing its ongoing growth and influence in the DeFi space.
Grayscale’s Vision for the Future
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, emphasized that the new trust allows investors to benefit from the growth of the entire MakerDAO ecosystem. She highlighted Grayscale’s commitment to offering innovative investment opportunities.
During a webinar on August 12, Dave LaValle, Grayscale’s global head of ETFs, shared his outlook on the future of cryptocurrency ETFs. He predicted that the market will expand to include more single-asset products as well as diversified crypto indexes.
In LaValle’s words, “We’re going to see more single-asset products, and also index-based and diversified products.”
This signals Grayscale’s continuous push to broaden its range of crypto investment options.
