Crypto asset manager Grayscale has established a MakerDAO Trust, which provides investors with the opportunity to acquire exposure to MKR.
Grayscale, a digital asset management firm, has announced the launch of its MakerDAO Trust, a new single-asset cryptocurrency investment fund available through private placement.
This follows the company’s previous introductions of similar crypto-based trusts to provide investors with market exposure.
The price of MKR responded positively, showing a 5% increase.
Grayscale Unveils MakerDAO Trust
On August 13, Grayscale issued a press release announcing the public launch of its MakerDAO Trust, further expanding its product offerings.
This new trust enables investors to gain exposure to MKR, the utility and governance token of MakerDAO, an Ethereum-based autonomous organization.
According to the statement, the trust is available for daily subscriptions to both institutional and individual investors, functioning similarly to previous funds by giving investors a way to invest in MakerDAO.
Rayhaneh Sharif-Askary, Grayscale’s Head of Research and Products, highlighted investors’ growing demand for more cryptocurrency products, emphasizing the firm’s dedication to offering innovative investment opportunities.
She stated, “The launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi’s dependency on traditional finance infrastructure by providing a permissionless, decentralized, and open stablecoin system.”
The wealth manager reaffirmed its commitment to pioneering solutions within the crypto ecosystem, expressing optimism after launching over 20 products.
However, by focusing on reducing reliance on traditional finance, DeFi users across the crypto community have praised Grayscale’s move.
Just last week, Grayscale introduced two new investment products, the Sui Trust and the Bittensor Trust, in response to increasing demand.
Crypto Enthusiasts Sight Positives
Following the announcement, the crypto community highlighted the significant achievements, including increased market exposure, which fuels broader adoption.
As more institutional investors show interest, Grayscale has played a key role in driving this growth in recent years.
A prominent example of Grayscale’s influence was its landmark victory over the Securities and Exchange Commission (SEC), which led to spot Bitcoin ETFs’ approval.
Since these products were introduced, billions of dollars have flowed into the market, with traditional firms boosting their exposure and contributing to the rise in assets under management (AUM).
