Grayscale launches new Maker (MKR) investment fund

Grayscale Investments has announced the launch of a new fund that invests in the MakerDAO network token. The new fund will be called MakerDAO Trust and will be privately fundraised. In other words, it will be restricted to institutional investors.

This launch follows a similar process by other crypto-based funds to create investor exposure to the market. GBTC itself, which is now the second-largest Bitcoin ETF on the market, started this way.

Following the launch reveal, the price of the MKR token reacted positively with a 5% increase. According to CoinGecko, the token price reached the $2,116 mark this Tuesday (14).

Grayscale Launches MakerDAO Trust

On Monday (13), Grayscale announced the public launch of the MakerDAO Trust, which adds to its growing list of products. The manager has 20 funds in its portfolio, including GBTC.

With the new fund, institutional investors will be able to gain market exposure to MKR, MakerDAO’s governance token, without having to purchase it directly.

According to the statement, the Trust is open to both institutional and individual investors. Rayhaneh Sharif-Askary, Head of Research and Products at Grayscale, highlighted the demand from investors for more crypto products, emphasizing the firm’s commitment to providing innovative investment opportunities.

“The launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem. This trust removes DeFi’s reliance on traditional financial infrastructure by providing an open, decentralized, and permissionless stablecoin system,” Askary explained.

Aiming to reduce dependence on traditional finance, DeFi users have praised the creation of the fund. However, others have said that the product tends to centralize the MKR in a few hands, which is detrimental to the development of the network.

Last week, Grayscale unveiled two investment products, the Sui Trust and the Bittensor Trust, expanding its roster to 20 funds.

Cryptocurrency users see positives

Following the announcement, crypto enthusiasts are looking forward to the achievements made so far, including increasing levels of market exposure. In this regard, some of them celebrated the growing demand from large investors.

This increased adoption, in turn, is driving interest in cryptocurrencies as more institutional investors are adding to their portfolios. Grayscale has been a key player in driving this growth in recent years.

One notable example was its historic victory over the U.S. Securities and Exchange Commission (SEC) that led to the approval of spot Bitcoin ETFs. The move virtually forced the SEC to approve Grayscale’s ETF, which opened the door for 10 other ETFs to come to market.

Since the launch of these funds, billions have been poured into the market, with traditional firms increasing exposure and increasing assets under management (AUM). GBTC itself has suffered as a result, as it has faced successive outflows and lost its position as the largest Bitcoin fund to BlackRock’s IBIT.

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