Grayscale Investments Ltd has launched a new fund focusing on investing in MakerDAO’s governance token known as MKR. This effort expands its service in the sphere of crypto investment. The fund wants to expose eligible investors to the MKR token and its role within the MakerDAO ecosystem on the Ethereum network.
Grayscale Adds MakerDAO Trust to Crypto Portfolio
The Grayscale MakerDAO Trust is yet to be tradeable on any exchange and is only open to Qualified Institutional Buyers. It extends Grayscale’s product portfolio of single cryptocurrency exposure products. This month, the asset manager opened trusts for Bittensor and Sui’s native tokens.
“This addition complements our diverse offering of investment products,” said Rayhaneh Sharif-Askary, Grayscale’s head of product and research.
Grayscale Investment is one of the largest digital currency investors, with total assets under management of over $25 billion. It is popular for the Bitcoin and Ethereum exchange-traded funds. As more people turn to various digital assets, the firm is still expanding the range of services provided.
“We want to continue to offer investors new opportunities in the digital economy,” said Sharif-Askary.
MakerDAO Invests $1 Billion in US Bonds
Recently, in a webinar, Dave Lavalle, the Global Head of ETFs at Grayscale, was positive about the growth of cryptocurrency ETFs. He said there would be more single assets and more diversified crypto indexes as a product. ”The market for cryptocurrency funds is constantly developing and expanding, which means that more prospects are available for investors,” Lavalle said.
MakerDAO is one of the most recognisable players in the DeFi space, managing the stablecoin DAI and offering a variety of on-chain credit derivatives. In July, MakerDAO announced that it would be sinking $1 billion into tokenized US treasury bonds. Grayscale’s new fund aims to explore the growth and evolution within the MakerDAO ecosystem and thus present investors with a profitable way to participate in this new financial system.
Also Read: MakerDAO could allocate $600 million worth DAI to USDe and sUSDe
Source: https://www.cryptonewsz.com/grayscale-expands-suite-with-makerdao-mkr-fun/