Asset supervisor Grayscale Investments launched a brand new investment fund for the governance token of MakerDAOMKR, in response to an Aug. 13 press launch.
This fund, referred to as Grayscale MakerDao Trustprovides traders the chance to realize publicity to MKR, the utility and governance token of MakerDAO, an Ethereum-based autonomous group.
This fund isn’t publicly traded and is simply accessible to certified traders. With this launch, Grayscale is increasing its vary of single-asset cryptocurrency investment merchandise. On August 7, Grayscale additionally launched two different funds to spend money on the native tokens of the Bittensor and Sui protocols.
Grayscale is the most important cryptocurrency fund supervisor on this planet, with greater than $25 billion in belongings beneath administration (AUM) as of August 1. It is thought for its Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), together with the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE).
Private Fund for MakerDAO
Grayscale additionally operates single-asset personal funds for different protocol tokens, akin to Basic Attention Token (BAT) and Chainlink (LINK).
MakerDAO is a decentralized finance (DeFi) protocol and issuer of the DAI stablecoinpegged to the US greenback. Additionally, MakerDAO operates an ecosystem of onchain lending merchandise. In July, MakerDAO introduced plans to speculate $1 billion in tokenized US treasury bonds.
The Grayscale MakerDao Trust permits traders to expertise the expansion of all the MakerDAO ecosystem, Rayhaneh Sharif-Askary, Grayscale’s director of product and analysis, mentioned in an announcement.
“Grayscale is committed to expanding our product range and providing innovative investment opportunities.”
Sharif-Askary.
Cryptocurrency ETF market growth
During a webinar on August 12, Dave Lavalle, Grayscale’s world head of ETFs, predicted that the cryptocurrency ETF market will develop to embody new sorts of digital belongings in addition to diversified crypto indexes.
“We will see a greater number of single-asset products, and certainly some diversified and indexed products as well.”Lavalle commented.
