Grayscale recently launched the Grayscale MakerDAO Trust, a crypto investment fund that offers investors direct exposure to MakerDAO’s native MKR token. MakerDAO is a lending platform on the Ethereum blockchain that supports the decentralized stablecoin DAI and is currently the fourth-largest DeFi protocol with assets totaling around $7 billion. The DAI stablecoin ranks third in the industry behind USDT and USDC. The new Grayscale MakerDAO Trust will focus exclusively on the MKR token, providing investors with exposure to an on-chain credit protocol, stablecoins, real-world assets, and more within MakerDAO’s ecosystem.
Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research, described the launch of the Grayscale MakerDAO Trust as a significant step in expanding the company’s crypto product lineup. She highlighted the goal of removing DeFi’s dependence on traditional finance infrastructure by offering a permissionless, decentralized, and open stablecoin system through the growth of the MakerDAO ecosystem. The Trust is now available for daily subscriptions from eligible individual and accredited institutional investors.
In addition to the Grayscale MakerDAO Trust, Grayscale recently introduced its Bittensor Protocol and Sui Trusts, which also target native tokens of their respective ecosystems. The asset management firm now holds Trusts for over 20 digital assets, including Solana, Litecoin, Chainlink, ZCash, and others. The total value of assets under Grayscale’s crypto trust management is reported to be over $7 billion, showing strong interest and confidence from investors in the crypto space.
Over the past year, Grayscale has successfully converted its Trusts in Bitcoin and Ethereum into spot exchange-traded funds (ETFs) in the US. These ETFs are among the largest in the crypto market, with combined assets nearing $20 billion. The launch of the Grayscale MakerDAO Trust adds another option for investors looking to diversify their crypto portfolios and gain exposure to the growth potential of the MakerDAO ecosystem. With the increasing popularity of DeFi protocols and stablecoins, the new Trust offers a unique opportunity to participate in this innovative sector of the blockchain industry.
In conclusion, Grayscale’s launch of the Grayscale MakerDAO Trust is a significant milestone in expanding their crypto product lineup and offering investors exposure to the growth potential of the MakerDAO ecosystem. With the Trust now available for subscriptions, eligible investors can participate in the decentralized stablecoin system and on-chain credit protocol provided by MakerDAO. As Grayscale continues to introduce Trusts for various digital assets, their total value of assets under management in the crypto space is on the rise, demonstrating growing investor confidence in the future of blockchain technology and decentralized finance.
