Grayscale Launches New Fund for MakerDAO’s MKR Token

Grayscale Investments has launched a new investment fund focused on MakerDAO’s governance token, MKR, according to an August 13 press release. The Grayscale MakerDAO Trust provides qualified investors with exposure to MKR, the utility and governance token for the Ethereum-based decentralised autonomous organisation (DAO), MakerDAO.

This new fund is the latest addition to Grayscale’s growing suite of single-asset cryptocurrency investment products. It follows the August 7 launch of two other trusts for investing in Bittensor and Sui’s native tokens.

Grayscale, the world’s largest cryptocurrency asset manager with over $25 billion in assets under management as of August 1, is best known for its Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs), including the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). The company also operates private single-asset funds for other protocol tokens, such as Basic Attention Token (BAT) and Chainlink (LINK).

MakerDAO is a prominent decentralised finance (DeFi) protocol known for issuing the U.S. dollar-pegged stablecoin, DAI, and operating an ecosystem of on-chain credit products. In July, MakerDAO announced a plan to invest $1 billion in tokenised U.S. Treasury bonds, highlighting its growing influence in the DeFi space.

Rayhaneh Sharif-Askary, Grayscale’s head of product & research, emphasised the importance of the new trust in a statement: “The Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem.”

Grayscale’s global head of ETFs, Dave Lavalle, discussed the future of cryptocurrency ETFs during an August 12 webinar, predicting further expansion into new digital assets and diversified crypto indexes.